The negative figures are the first since 1994 and a result of the shutdown in Norway due to the corona pandemic.
Unders kottet is unique in Norway, but the country is far from an economic crisis.
– The second quarter of 2020 is serious in several ways, for the Norwegian economy and public finances, says Pål Sletten, head of the national accounts at Statistics Sweden, to Norwegian NRK.
The figures presented by Statistics Norway today show a sharp decline of 9 percent in the Norwegian economy during the second quarter of 2020. From a surplus in the first quarter of SEK 22 billion to a deficit of SEK 83 billion in the second quarter.
– The Norwegian Petroleum Fund has a value of approximately SEK 10,000 billion and can manage deficits for several years to come, but then it will be empty, says Pål Sletten at Statistics Norway.
Source: ICELAND NEWS