PM: Norway's GDP Growth Seen Dragged Down By Low Oil Price


OSLO, Jan 8 (Reuters) – Norway's economic growth will be lower in 2015 than predicted in the October budget bill due to the low oil price, Prime Minister Erna Solberg told reporters on the sidelines of a conference on Thursday.

"But it is not as serious as you would think because we got other businesses which will be able to gain from increased growth abroad," Solberg said.

"In the short term, it is of course more challenging because it leads to more uncertainty around the economy," she added.

The government predicted in October that the mainland economy, or excluding the offshore oil and shipping sectors, would grow by 2.0 percent this year. The central bank meanwhile forecast mainland growth at 1.5 percent in December. 

(Reporting by Camilla Knudsen and Stine Jacobsen; Editing by Balazs Koranyi)

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
kushal kumar | Jan. 14, 2015
The report about economic scenario in Norway seems to be corresponding to this writers predictions of 2 June 2014 in article - Stressful times ahead for world economy in 2015 and 2016 - published online It was identified by this writer that commencing from November 2014, global economy including economy of nation whose name begins with letter "N" would pass through a turn having trend of turmoil which is likely to continue, in one shape or other, till about mid- 2016. It was also predicted that, among other commodities, energy resources like hydropower, oil and gas would play a vital role. Readers may themselves judge whether these predictions appear to have been confirmed accurate by happenings on the ground. These predictions cover year 2015 as well. Having said that, it may be observed that these predictions of likely trends are indicative and not deterministic suggesting that with due regard to scheme of happenings in human life, there is always room for reform, salvaging and improvement through renewed, sufficient and appropriate strategy


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Regulatory Compliance Specialist
Expertise: HSE Manager / Advisor|Offshore Position Surveying|Regulatory Compliance
Location: Houston, TX
Shipping and Receiving Specialist
Expertise: Logistics Management|Port Operations
Location: College Station, TX
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours