Norwegian Economy is in a Golden Age

Norway has been spared from the economic problems having shaken Europe and the rest of the world. While increasing unemployment and burdensome debt threaten several countries outside Norway, Norwegians live advantage of low interest rates, a strong currency and high wages.

Yet, Norwegian Prime Minister Jens Stoltenberg had warned that Norway must prepare for difficult times of Euro area in 2013. 

– We are not invulnerable and immune, it is easy to make mistakes that may also create problems in our own country, said Prime Minister Jens Stoltenberg last week.

Read also: Stoltenberg Fears a New Euro Crisis in 2013

On the other hand, investors and economists believe there is little to suggest that Norway will be affected by European countries that easily. The experts talking to TV2 believe that Norway is in a class of its own thanks to oil money in the pension fund.

– We have a golden age and it semms to continue because we have a pension fund, says investor Jens Ulltveit-Moe . 

Chief economist Jan Andreassenagrees with Moe.

– As I have said a long time, I think we are heading towards a kind of “Swiss dilemma,” where strong capital inflows into Norway pushes Norwegian Kroner to new records. We have already set new records in 2013, and it will get stronger and stronger as the year progresses, said he.

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