The OECD Expects Slower Economic Growth in Norway

Norways Finiance Minister Siv jensen | Photo: Norsk Maritimt Museum/Beate Kjørslevik

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The Organisation for Economic Co-operation and Development (OECD) estimates that economic growth in Norway will fall this year and next year. The housing market is still the biggest danger factor.

On Wednesday, the OECD presented its annual report on global economic prospects. Housing prices are emphasized as a crucial uncertainty in Norway, according to NTB.

The big question, according to the OECD, is whether the fall in prices in recent months has been enough to prevent a bigger housing demand.

All in all, the OECD expects 1.8 per cent growth in Norway this year, with a 1.9 per cent decrease from last year. Next year, growth is expected to fall to 1.6 per cent.

The main picture is nevertheless positive. The mainland economy is described as robust, and the OECD points out that economic growth in the mainland has accelerated. At the same time, more people are coming to work, and unemployment is expected to continue downwards.

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