Economic growth will strengthen gradually until 2018 supported by higher private consumption and a rebound in non-oil investment, helped by better global prospects and a weaker currency. The pace of decline in petroleum investment is set to slow. The unemployment rate should peak in 2016, whereas inflation will edge down as the impact of the exchange rate depreciation abates and economic slack continues.  

Ultimately the economic crisis is about people, says Espen Barth Eide, Norway’s minister of foreign affairs. That is why respecting human rights and adherence to democratic principles are fundamental when addressing the current economic crisis. We are in this together, so we need multilateral solutions more than ever.

High female participation in the workforce has a decisive effect on a country’s performance, as Norway shows.