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– All the economic indicators suggest that this is the largest shock we have seen for the Norwegian economy and for the global economy ever. It stops all the way up, and the big question is how long this will last, and it is this which is crucial, ” says chief economist Kari Due-Andresen at Handelsbanken the Norwegian broadcasting corporation NRK.
COMPLETELY STOPPED: the Corona have led to the biggest shock for the Norwegian economy and for the global economy ever, ” believes chief economist Kari Due-Andresen at Handelsbanken.
Photo: Inger K. Lee/Ole P. Gaff / NRK
Due-Andresen paints a grim picture of the country’s economy and the world economy.
the Country’s economists are excited ahead of the report that The international monetary fund come with in the day. The question is how deep the agency believes that the global economy will fall, and thus also how the Norwegian economy will be affected. The signals indicate that there are grim forecasts, the IMF comes with.
– It is clear that we have entered into a recession, ” said IMF chief Kristalina Georgieva few days ago.
the BLEAK OUTLOOK: Economists expect that IMF-chief Kristina Georgieva (pictured) is going to add up gloomy forecasts for the world economy.
Photo: Samuel Corum / AFP
Recession is a downturn in the economy as measured by a fall in the country’s gross domestic product in two quarters in a row, or in the course of even longer time. Recessions often entail growing unemployment and falling or increasing prices.
Follow the on rapportfremleggelsen from the IMF here Tough times, but not depression
Here in Norway have the shut-down of the economy already led to massearbeidsledighet and crisis measures from the government, and many business leaders see negative in the future.
Professor Ola Grytten at the Norwegian School of economics has done research on the historical economic crises. He believes that we don’t get a replay of the hard 30-years.
– In the 1930s we had a depression, then fell in both industry value added and prices, and it becomes self-perpetuating. When prices fall, exposes companies investments and people are postponing consumption and purchases, and thus enters it even worse, says professor Ola Grytten.
But even though Norway is also affected hard this time, there is much that suggests that we’ll get luckier from it than many other countries.
– It is likely that we will experience this time is a recession, then, production will fall over time, ” says Ola Grytten.
NHH-the professor sees few signs of a fall in prices ahead, but he believes that the authorities the world over need to take a number of steps. Grytten points out that the authorities in the long run not only can implement measures that compensate for a shut down economy.
– Authorities the world over must begin to inspire the business world to get production in food and nødvendighetsgoder, says Grytten.
– This crisis is a new type of shock to the economy. It is not produksjonssvikt and not etterspørselssvikt. It is myndighetsskapt in and with that there is a prohibition against the activity. The great uncertainty about the future makes that those with high debt, will save and increase savings,which in the next round and reduces the demand, ” says chief economist Elisabeth Holvik in the Sparebank1 group.
TOUGH: Professor Ola Grytten at the NORWEGIAN believes that the authorities increasingly need to stimulate the business sector to the production not only compensate for shut down economy
Photo: David West / NRK Norway is luckier
Several economists NRK has been in contact with looking for a hard-hit the world economy forward. And where other countries ‘ authorities are now using money they may not have, in order to keep the wheels in motion in the economy, it may seem as if Norway is luckier set in several ways.
– We are left with a gullskje in the mouth because of its oil wealth, moreover, it appears that koronapandemien are milder in Norway than in many other countries, says Grytten.
an overview from the forskningsgiganten FM Global feeds also Norway as one of the best rustede country to come back strong when the virus let go and the wheels begin to go around again.
But no matter: everything stands and falls on how long the crisis lasts, the opinion of economists NRK have talked with. The losses are greater the longer the time the economy is shut down.
– no Matter who bears the costs of this now, so this will be something that everyone will notice and everyone must stay again and tighten their belts. This makes that I’m worried that it will take time to get out of this, ” says chief economist Kari Due-Andresen at Handelsbanken
Read also: the IMF believes the Uk should change sykelønnsordningen Read also: the Norwegian oljekutt may come in the near future More about the koronaviruset StatusRåd and infoØkonomiSpør NRK Status NorgeSist updated: 13.04.20206516Smittet203Innlagt134Dødestatus for Norway