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Country Forecast Norway Updater

  • ID: 2114053
  • Country Profile
  • March 2017
  • Region: Norway
  • 16 Pages
  • The Economist Intelligence Unit
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The right-of-centre minority government, comprising the Conservatives and the Progress Party (FrP), is reliant on parliamentary support from two smaller, centrist parties: the Liberals and the Christian Democrats (KrF). They opted not to join a formal coalition owing primarily to concerns about the presence of the FrP. The Economist Intelligence Unit expects the government to serve its full term to late 2017. Opinion polls suggest a very tight race between the centre-right bloc and the centre-left opposition parties, but we expect a Conservative-led coalition government to be returned to office at the next election.

The government has significantly tightened immigration and asylum policy since late 2015, and issues relating to the EU and immigration will remain high on the political agenda, particularly following the UK's vote to leave the EU. Despite political and economic uncertainty, efforts to strengthen business activity in the mainland economy are to continue, amid a trend decline in oil output. A reduction in the headline corporation tax rate is being phased in.

Norges Bank (the central bank) cut its main policy interest rate to a record-low 0.5% in March 2016 amid a subdued economic outlook. Conditions have since improved slightly and we now expect no rate change in 2017, amid high and rising private-sector indebtedness and strong house price growth. However, Norges Bank might still impose negative interest rates in the event of a sharper than expected economic slowdown.
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Country Forecast Norway Updater

Country forecast overview: Highlights

Country forecast overview: Key indicators

Country forecast overview: Business environment rankings

Country forecast overview: Norway's business environment at a glance
Policy towards private enterprise and competition
Policy towards foreign investment
Foreign trade and exchange controls
The labour market

Fact sheet

Outlook for 2017-21: Political stability

Outlook for 2017-21: Election watch

Outlook for 2017-21: International relations

Outlook for 2017-21: Policy trends

Outlook for 2017-21: Fiscal policy

Outlook for 2017-21: Monetary policy

Outlook for 2017-21: Economic growth

Outlook for 2017-21: Inflation

Outlook for 2017-21: Exchange rates

Outlook for 2017-21: External sector

Data summary: Global outlook

Data summary: Gross domestic product, current market prices

Data summary: Gross domestic product, at constant prices

Data summary: Gross domestic product by sector of origin

Data summary: Growth and productivity

Data summary: Economic structure, income and market size

Data summary: Fiscal indicators

Data summary: Monetary indicators

Data summary: Employment, wages and prices

Data summary: Current account and terms of trade

Data summary: Foreign direct investment

Data sources and definitions
Global data
Domestic data
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown