This paper examines the development of general government finances in Norway during 1988–96. The paper looks at general government revenue and expenditure in detail, examines the importance of revenue from the petroleum sector for general government finances, and reviews developments in the...

This paper reviews economic developments in Norway during the 1990s, with an emphasis on developments in 1993 and 1994. The paper covers developments in the real economy, in the public finances, and in the monetary and exchange rate area. The private consumption in Norway remained weak through...

This Background Paper examines the medium-term economic outlook (1997–99) for Norway. The central feature of Norges Bank’s reference case projection for the medium term is that the expansion of mainland output will slow from 3.3 percent in 1995 and 2.8 percent in 1996 to an annual average of...

This Selected Issues paper examines the role of the State Petroleum Fund in Norwegian economic policy, as a means to promote a sustainable long-term fiscal position and to help maintain the competitiveness of the non-oil (“mainland”) economy in the face of high oil export revenues. The paper...

This Selected Issues paper reviews the main elements of the National Insurance Scheme (NIS) and the Family Allowance Scheme (FAS) in Norway and provides projections of future pension expenditures. All persons residing or working in Norway are insured under the NIS, and the system is financed on...

The current slowdown in the Norwegian economy has followed an exceptionally prolonged phase of expansion. The current slowdown in economic growth is expected to continue. Over the longer term, the public finances face challenges as oil revenues begin to run out and pension liabilities escalate....

This paper presents the staff report for Norway’s 2009 Article IV Consultation on economic developments and policies. Unemployment remains low, and key short-term indicators point to a continued recovery. Norway’s resilience has been underpinned by substantial macroeconomic stimulus, buoyant...

This Selected Issues paper examines Kenya’s growth performance during 1980–2004. It considers the stylized facts on Kenya’s growth performance in the past two decades, in comparison with other Sub-Saharan African countries. The paper examines main sources of economic growth in Kenya, in...

Norway showed exemplary economic performance over the past decade, as reflected in the strong economic growth and low inflation. Executive Directors commended this development, and stressed the need to maintain monetary and fiscal stances, improve efficiency, and corporate governance. They...

This Selected Issues paper of Norway presents a cyclical indicator of fiscal policy at the general government level, and provides an updated assessment of the long-term fiscal position based on the future profile of the State Petroleum Fund (SPF). The study focuses on structural changes needed...