– We see that expectations have strengthened a little. You are more positive about the future. That’s what Martin Blomhoff Holm, postdoctoral fellow at the Department of Economics at the University of Oslo, says. He refers to Finance Norway’s Expectations Barometer for the first quarter of 2024. Norwegians’ expectations for their own and the country’s economy are measured every quarter, and November last year was a low point. But now there has been a change of mood. Although economic self-confidence is still at a historically low level, there are now far more people who are optimistic than pessimistic about their own finances in the coming year. Holm points out that the international economy is doing better than feared. – It looks a little brighter than a while ago. Global inflation appears to be coming somewhat under control. Thinks the policy is working Business Minister Jan Christian Vestre (Ap) believes we are approaching a positive turning point in the Norwegian economy and says it is good to see that people are starting to regain their faith. – The government’s economic policy is working, he asserts. Industry Minister Jan Christian Vestre says the government’s financial policy has worked. Photo: John-André Samuelsen / JOHN-ANDRE SAMUELSEN Vestre points out that the government has pursued a prudent financial policy and has been careful with the use of oil money. – Throughout this time, we have managed to keep inflation lower than in many other countries. – Of course, it has cost a bit. We have had to postpone some of our election promises. We have made tough priorities, but now we are starting to get paid, says the Minister of Business and Industry with satisfaction. International reasons The economist does not agree that it is Norwegian politics that makes the future look brighter. – It is to a very large extent international conditions, emphasizes Holm. He points out that inflation is on the way down in the US and in the eurozone and that there does not seem to be any major crisis abroad. He believes that the Minister of Business and Industry justifies the optimism in the government’s policy is understandable, but wrong. – There is a limit to how much credit you can take for this. Economist Martin Blomhoff Holm believes that the brighter times are not primarily due to Norwegian politics. Photo: ISMAIL BURAK AKKAN / news Vestre agrees with the economist that what happens internationally is important. – At the same time, fiscal policy is important, he believes. He maintains that a responsible policy has contributed to Norway getting through the troubled economic times. – Aren’t you now taking credit for an international trend? – No. We only point out that the fact that we pursue a responsible economic policy and have not spent oil money beyond our means has also contributed to the fact that inflation has been lower than in many other countries. Now the Minister of Business and Industry hopes that most people will get better advice. – And that we are probably now approaching the interest rate peak. This is very good news for both Norwegian families and Norwegian companies.
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– Limited how much credit you can take for this – news Norway – Overview of news from different parts of the country
