• We forecast the krone to unwind recent losses in the near-term and appreciate to an end-2024 rate of NOK11.32 per EUR, from its

Latest Development: Norway is set to introduce regulations targeting data centres, particularly to curb energy-intensive crypto mining operations, to prevent electricity disruptions affecting heating systems and to reduce environmental damage from carbon emissions. The proposal is indicative of a wider regulatory stance, primarily across

Key View

• We expect the NOK to appreciate gradually over the course of 2024 even as it faces short-term headwinds as a favourable interest rate differential and lower NOK sales by Norges Bank support the unit.
• Our expectation for a favourable interest rate differential between Norges Bank and other central banks drives our bullish forecast for

Key View

• Following the narrowing from 30.2% of GDP in 2022 to a projected 24.9% in 2023, we expect the Norwegian current account surplus to recover modestly and widen to 26.2% in 2024.
• Travel will remain the biggest negative contribution to the services balance, with shipping as the largest item on the exports side.
• We expect Norway’s

Key View

• After narrowing from 30.2% of GDP in 2022 to a projected 24.4% in 2023, we forecast that the Norwegian current account surplus will increase to 25.6% in 2024, owing to a robust outlook for hydrocarbon exports
• Tourism will likely remain the main drag on the services balance as consumers travel abroad to holiday. 
• We expect the

Key View

• We have revised upward our growth forecast for Norway’s medical devices market supported by rising healthcare budget allocations. However, economic challenges will shape how resources are allocated.
• Other medical devices remains the fastest growth sector over the forecast period as the government prioritises hospital expansion.
• Orth

Key View

• We believe that the main factor keeping 2023 growth firmer than 2024 growth is demand for petroleum exports. We expect growth in 2023 to come in at 1.3% and then slowing to 1.0% in 2024.
• We have revised our 2024 view on Norwegian economic activity as persistent inflation, tight monetary conditions, and downsides to petroleum exports

Key View

• Hungary booked five investment announcements, of which three were related to Gigafactories and the remaining two were related to EV battery component investments, as Hungary secured the largest number of batteries-related investments in the H222-H123 period.
• Germany managed to secure the second place with four batteries-related