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 Norway’s oil and gas sector brings growth to some businesses, while others struggle with high costs On Feb. 9, Norsk Industri presented its annual assessment of current condition and outlook for the year. “We see the [oil and gas] industry as Norway’s golden egg,” says Communications Director Finn Langeland of Norsk Industri (Federation of [...]  Norwegians are the third richest in the world, according to a new report from the Swiss bank Credit Suisse. In first place are the Swiss themselves. Adult Norwegians had in 2011 an average net worth of $355,925, equivalent to NOK 2 million, an increase of 17.6 percent compared with last year, according to Credit [...] The Norwegian economy is still in a slump, but appears to have bottomed out. Greater domestic demand is expected to keep the growth rate high and to take the Norwegian economy into a boom in 2013. The activity in the Norwegian economy has increased considerably since the summer. With growth in the GDP for mainland [...] Gross domestic product (GDP) for mainland Norway grew by 0.9 per cent in the 3rd quarter, compared to an increase of 0.5 per cent in the two previous quarters. The growth was led by increased final consumption expenditure by households and general government as well as increased exports excluding crude oil [...]  The Norwegian economy remains clearly in recession after four quarters of moderate growth in GDP for Mainland Norway. Increased domestic demand is expected to stimulate growth. But there will not be an appreciable upswing for another two years. The latest GDP figures from the Quarterly National Accounts (QNA) showed slightly lower growth [...]  Gross domestic product (GDP) for mainland Norway increased by 0.1 per cent in the 1st quarter of 2010. Growth in both household and general government final consumption expenditure made a positive contribution, while gross fixed capital formation in mainland Norway fell. The slow growth in the mainland economy came as a result of a drop [...]  The Norwegian economy has performed better than most other industrial countries during the financial crisis and global recession. Expansionary monetary and fiscal policies, along with extensive credit and liquidity measures, have helped to mitigate the effects of the crisis on the Norwegian economy. In the revision of the Fiscal [...] A total of 273,000 Norwegian households had a debt more than three times the size of their household income in 2008. In 74 000 of these households the debt exceeded the annual income more than five times. Norwegian households have increased their debt burden over the past years. From 2004 to 2008 [...] The Nordic countries – Finland, Norway, Sweden and Denmark – support Iceland’s efforts for economic recovery by providing bilateral loans totalling 1.775 billion euro for disbursement in four equal tranches in the context of Iceland’s economic programme with the International Monetary Fund (IMF) and under the condition that Iceland will [...]  Preliminary figures for 2009 show a strengthening of the municipalities’ finances compared to 2008. Net operating surplus for the municipalities is estimated at 2.8 percent in 2009 compared to 0 percent in 2008. Preliminary figures for 2009 estimate that gross operating surplus was about NOK 3.4 billion for all the municipalities combined. The estimations [...] |
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