IMF: Strong economic growth
Press release | No: 30/2022 | Date: 09/06/2022 | Last updated: 10/06/2022 | Ministry of Finance
The IMF conducts a yearly assessment of the Norwegian economy. As part of this year’s assessment an IMF delegation has spent over a week discussing recent economic developments and Norway’s economic policy with authorities, academic and financial institutions, and social partners.
The delegation, headed by Emil Stavrev, presented their concluding statement on June 9th. A more comprehensive report will subsequently be presented to the IMF board.
The IMF concludes that the Norwegian economy has bounced back strongly after the pandemic, and mainland GDP is estimated to grow by around 4 percent this year.
At the same time, there is great uncertainty surrounding the economic outlook going forward. The war in Ukraine, a potential lower demand from Europe, and bottlenecks create uncertainty.
Still, the delegation considers the Norwegian economy to be less vulnerable than other countries and risks to the outlook to be fairly balanced.
The IMF finds that fiscal management has been strong in Norway, but emphasises that fiscal policy will have to be tightened in the future.
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