On 26 June, the IMF delegation to Norway submitted its assessment of the Norwegian economy and Norwegian economic policy to the Government. The full report has now been finalised by the IMF Board of Directors.

"The IMF confirms that the Norwegian economy is doing well and that the framework for economic policy is solid. At the same time, it can always be further developed and strengthened," said Minister of Finance Jens Stoltenberg.

In the report, the IMF points out that the Norwegian economy has fared well despite tight financial market conditions and a challenging international situation. They project growth in the mainland economy at around 1½ per cent both this year and next (up from 0.6 per cent in 2024), driven by lower interest rates, expansionary fiscal policy and rising real income. The IMF also expects a stable labour market with unemployment levels around the current low level.

The IMF believes that the most important policy challenge is to bring inflation further down towards the inflation target. The IMF also attaches great importance to making the most of the funds available to the public sector. The IMF emphasises the importance of reforms and measures that can strengthen the line of work in order to reduce the number of people receiving disability benefits and increase labour force participation. This is in line with the Government's ambitions.

The IMF's delegation to Norway was led by Emil Stavrev.