The Norwegian economy recorded timid growth in 2023, weighed down by high inflation, higher interest rates, and weak purchasing power.
Gross domestic product rose by 0.7 percent last year from 3.7 percent in 2022, which was characterized by high fuel prices, of which the Scandinavian country is a major producer.
According to the Norwegian Statistical Institute, economic developments during the year were characterized by high inflation domestically, increased interest rates, and a decrease in household purchases. This has led to below-normal growth and relatively timid development of the economy.
Source (Al-Arabiya.net Website, Edited)
