06.05.2020 09:44

Nordic Outlook: Unprecedented halt, despite record stimulus

The COVID-19 outbreak, combined with the collapse in oil prices, will have a major negative impact on the economy in Norway. Mainland GDP (excluding oil, gas and shipping) will contract by 7.4 per cent in 2020, followed by a 5.2 per cent rebound in 2021. Despite a forceful policy response, the economic recovery will be slow and will be hampered by falling petroleum sector demand and high unemployment.

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