Norway: Staff Report for the 2002 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 077

Publication date: March 2003

ISBN: 9781451829693

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Inflation , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , mainland investment , IMF staff estimate , profitability , exchange rate , oil revenue , headline inflation , wage moderation , exchange rate appreciation , economic statistics , Oil , gas and mining taxes , Inflation , Fiscal stimulus , Global

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Republic of Congo : 2001 Article IV

Summary

This 2002 Article IV Consultation for Norway highlights that the mainland GDP growth edged up to an estimated 1.4 percent in 2002, from 12 percent in 2001, driven by strong consumption growth. Mainland investment and traditional exports slackened, as a result of weak external demand, high real interest rates, and an appreciation of the nominal effective exchange rate by 11.5 percent during 2002. Unemployment remained fairly stable through 2002 as the expansion of the sheltered sector offset employment losses in the exposed sector.