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Macro - Country Economic Forecasts - Norway

Publisher Oxford Economics
Published Sep 23, 2025
Length 8 Pages
SKU # OFE20535987

Description

We have kept our 2025 mainland GDP growth forecast for Norway at 2%. While higher global trade protectionism and tight monetary policy will weigh on growth, loose fiscal policy and high employment should support activity in H2 2025 and 2026. Risks to our outlook are balanced – petroleum investment may continue surprising to the upside, although disruption to global trade may have a more adverse impact than we assume. We forecast mainland GDP growth will slow to 1.7% in 2026.

Table of Contents

8 Pages
Norway: Slow monetary policy easing won't stifle growth
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy and politics

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