The operators on the Norwegian shelf is now projected investment in the industries oil and gas via pipelines to be 163.9 billion kroner for 2016. This is 13.3 percent lower than the corresponding estimate for 2015 given in Q1 2015 reports SSB.
in 2015 the GDP growth is the lowest since the financial crisis.
– We are dangerously close to the zero line for the Norwegian economy and there is reason to remind about the risk of recession. Now we get a corresponding decline in oil investment as last year, and we also see that this has turned negative impact on other parts of the Norwegian economy, says a senior economist Marius Gonsholt Hov Handelsbanken Nettavisen Stocklink.
– I think 2016 will be a challenging year for the Norwegian economy. It’s probably pretty far into the future before we can talk about that the bottom is approaching and retrieval in the economy, stresses economist.
The decline in investment is slightly larger than the projections of Norges Bank, which in March by next interest rate decision. Hov think the interest rate path is going to be adjusted down.
– The question is whether Norges Bank will signal the zero rate, or even lower, in the Norwegian economy, says Hov Manager.
Norges Bank publishes next interest rate decision on March 17.
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