AGL 5.77 Decreased By ▼ -0.31 (-5.1%)
ANL 9.01 Decreased By ▼ -0.39 (-4.15%)
AVN 78.40 Decreased By ▼ -3.06 (-3.76%)
BOP 5.16 Decreased By ▼ -0.11 (-2.09%)
CNERGY 4.66 Decreased By ▼ -0.24 (-4.9%)
EFERT 80.54 Decreased By ▼ -1.01 (-1.24%)
EPCL 51.97 Decreased By ▼ -2.03 (-3.76%)
FCCL 13.59 Decreased By ▼ -0.81 (-5.63%)
FFL 5.87 Decreased By ▼ -0.18 (-2.98%)
FLYNG 7.09 Decreased By ▼ -0.47 (-6.22%)
FNEL 4.82 Decreased By ▼ -0.18 (-3.6%)
GGGL 8.89 Decreased By ▼ -0.43 (-4.61%)
GGL 15.89 Decreased By ▼ -0.81 (-4.85%)
HUMNL 5.83 Increased By ▲ 0.14 (2.46%)
KEL 2.60 Decreased By ▼ -0.19 (-6.81%)
LOTCHEM 29.94 Decreased By ▼ -0.61 (-2%)
MLCF 25.40 Decreased By ▼ -2.39 (-8.6%)
OGDC 72.23 Decreased By ▼ -1.77 (-2.39%)
PAEL 15.42 Decreased By ▼ -0.77 (-4.76%)
PIBTL 5.03 Decreased By ▼ -0.20 (-3.82%)
PRL 16.37 Decreased By ▼ -0.92 (-5.32%)
SILK 1.09 No Change ▼ 0.00 (0%)
TELE 9.60 Decreased By ▼ -0.44 (-4.38%)
TPL 7.30 Decreased By ▼ -0.40 (-5.19%)
TPLP 19.18 Decreased By ▼ -0.59 (-2.98%)
TREET 21.93 Decreased By ▼ -1.26 (-5.43%)
TRG 144.54 Decreased By ▼ -2.81 (-1.91%)
UNITY 16.60 Decreased By ▼ -0.59 (-3.43%)
WAVES 10.01 Decreased By ▼ -0.37 (-3.56%)
WTL 1.36 Decreased By ▼ -0.10 (-6.85%)
BR100 4,230 Decreased By -100.1 (-2.31%)
BR30 15,822 Decreased By -474.4 (-2.91%)
KSE100 42,071 Decreased By -832.3 (-1.94%)
KSE30 15,504 Decreased By -300.7 (-1.9%)
World

Norway's economy to surpass pre-pandemic level this year: IMF

  • In the medium term, the size of the economy is now expected to be only slightly below its original trajectory as seen before the COVID-19 outbreak, it added.
  • "The strong policy response has helped the country to experience one of the lowest infection rates and among the smallest economic contractions in Europe," the IMF wrote.
Published April 26, 2021
Follow us

OSLO: The Norwegian economy is set to surpass its pre-pandemic size by the end of 2021 amid a strong rebound in growth, the International Monetary Fund (IMF) said in a report on Monday.

Mainland gross domestic product (GDP), a key measure that excludes the volatile impact from Norway's oil and gas output, is projected to swing to growth of 3.2% in 2021, the IMF said, from a 2.5% contraction last year.

In the medium term, the size of the economy is now expected to be only slightly below its original trajectory as seen before the COVID-19 outbreak, it added.

Norway was among the first countries in Europe to impose a national lockdown last year, followed by rapid interest rate cuts and a surge in fiscal spending from the country's $1.3 trillion sovereign wealth fund, the world's largest of its kind.

"The strong policy response has helped the country to experience one of the lowest infection rates and among the smallest economic contractions in Europe," the IMF wrote.

"Norway looks to be headed for a strong economic recovery this year, though substantial risks and uncertainties remain, including some related to the pace of vaccinations and infection rates," it added.

As the pandemic recedes, Norway should gradually withdraw fiscal and monetary stimulus and turn its attention to longer term fiscal policy challenges as the population ages and oil revenue is expected to gradually decline, the IMF said.

Comments

Comments are closed.

Norway's economy to surpass pre-pandemic level this year: IMF

KSE-100 plummets 2% as market reacts to 'surprise' rate hike

TTP ends ceasefire with govt, orders ‘attacks’ in country

By-elections will be held in Punjab, KP in case of mass resignations: ECP

Pakistan's delegation leaves for Russia to hold discussions on oil, gas

Rupee largely stable, settles at 223.95 against US dollar

Pak Army’s ‘political quarantine’ will augur well for Pakistan: Gen Bajwa

Oil prices erase 2022 gains as China’s protests spark demand worries

Hina Rabbani Khar to visit Afghanistan on Tuesday: FO

Sufficient stocks of sugar available in Pakistan, Finance Division told

World Cup riots in Brussels after Morocco beat Belgium