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Norwegian Economy |  This is what the newspapers wrote about the economy on Thursday, December 15th

Norwegian Economy | This is what the newspapers wrote about the economy on Thursday, December 15th

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A pre-Christmas gift for Norwegian motorists – there will be queues here (electronic newspaper)
Circle K with a large pre-Christmas present for motorists. Read more

The government will abolish the fuel tax from January 1 (electronic newspaper)
The fuel tax will be removed from the new year, which will lead to lower pumping prices, according to the government. Read more

“Everyone” expects the policy rate to rise somewhat (NTB)
Most people think Norges Bank will raise its key interest rate by 0.25 percentage point to 2.75 percent at Thursday’s interest rate meeting. But economists debate whether a peak in interest rates has been reached. Read more

The price of electricity will be more than halved: – A great convenience for many (today’s work)
Starting from the weekend, a cold wave will spread in the North region and on the continent. This leads to a reduction in the price of electricity by more than half. Read more

Tax evasion to Sweden (finansavicin)
Private equity investor Reiner Endal flees Norwegian taxes – to Sweden. There he enjoys zero wealth tax and low dividend tax as well as favorable tax for start-up companies. Read more

Fixed rate agreements: – They will actually cost almost twice as much in practice (NRK)
Companies say the new fixed-rate agreements mean they have to buy a fixed amount of electricity every hour and sell what they don’t use when the machines are down. Read more

Triple the trade surplus (finansavicin)
Norway’s trade balance showed a surplus of 101 billion in November. That’s 1425 billion so this year. Read more

Chief Economist asks Norges Bank to freeze interest rates: – Can they always be refunded (H24)
A slowdown in the housing market and a possible downturn in the economy should cause Norges Bank to stop raising interest rates, according to Chief Economist Jan L. Andreassen. On Thursday, the central bank is likely to raise interest rates again. Read more

Two of these five economists believe that the Bank of Norway will cut interest rates over the next year (today’s work)
Economists do not want the key rate to double, and many also believe that the interest rate has already been raised too much. On Thursday, the Bank of Norway will make its last interest rate announcement for the year. Read more

The oil industry believes that political uncertainty reduces activity at the grid control station (today’s work)
The outlook for investing abroad in Norway for the oil industry has changed little in 2010, although inflation has risen. This indicates less activity than expected, and pressure group indicates changed framework conditions. Read more

The professor believes that the salmon tax could bring in at least twice the estimated amount (today’s work)
Professor Bård Misund of the University of Stavanger believes that a basic interest tax on salmon could bring in around NOK 13 billion and falls short of NOK 3.8 billion, according to estimates by the Finance Ministry. But it totally depends on the price of the salmon. Read more

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Sjømat Norge asks Finanstilsynet to investigate the handling of inside information about the salmon tax (today’s work)
“It makes sense for all parties to do a small quality check,” says Geer of Westmark, CEO of Sjømat Norge. Read more

It will create fake electricity chokes (finansavicin)
– We do not want to burn bridges with Europe, but we are in a difficult situation, says Terje Halland of the Progress Party. Halleland outlines a scheme in which separate price points are established on suitable international connections in order to separate and mitigate price contagion in the southern Norwegian energy market from the European energy market. At the same time, it will authorize Statnett to operate international connections via new rate points. The purpose is to achieve normal electricity prices in Norway. Read more

Electricity prices were exacerbated by the cold and lack of electricity (NTB)
Colder weather than usual leads to an increase in electricity consumption. At the same time, wind and nuclear power plants provide less electricity than usual. This week, electricity prices hit new highs. Read more

Emptying water tanks: – Solid packing (today’s work)
Rising electricity prices mean that energy producers are draining water reservoirs massively. Over the past week alone, the fill rate in magazines in eastern Norway has fallen by five percentage points. Read more

Electricity rates fell slightly across the country on Thursday (H24)
In southern Norway, prices are falling, but they are still at a very high level. In these three price ranges, the price is NOK 3.97 per kWh averaged over the course of a day. Thus the price drops from the current level of NOK 4.52 per kWh. Read more

The committee should consider how the forward topic model works (NTB)
The government wants to set up a committee to look at how the front-line model works. But the model itself is not in operation, Prime Minister Jonas Gahr Storr (AP) confirms. – The main principle, the order of the forward topic model, I noticed that all organizations support, says Storr. Read more

The county council in Trøndelag asks the government to defer the salmon tax (MN24)
The vast majority in Trondelag County Council, made up of the Labor Party, the Center Party, the Christian People’s Party and the Liberal Party, say they cannot support a proposal to tax land rent when the facility is proposed. Read more

A record number of people are requesting a payment deferment to Lånekassen (VG)
A record number of people are requesting a payment deferment to Lånekassen. And soon it will no longer be possible to defer the payment, without exhausting the allotted share for the number of deferrals. Read more

Transparency around ownership is closing (The Leader, Dagbladet)
In recent years we’ve made great progress in transparency around ownership, but now there are dark clouds on the horizon. Read more

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The ministries have been working on action against hidden ownership for a year and a half (today’s work)
Two governments have worked to find out more about who owns Norwegian real estate. The first investigation has already started in the summer of 2021. Read more

NVE’s recommendations for electrifying the Draugen and Njord platforms are clear (NTB)
The Norwegian Directorate of Waterways and Energy (NVE) has sent its recommendations to the Ministry of Petroleum and Energy for the electrification of the Draugen and Njord platforms. Read more

Norway’s electricity exports continued to rise last week (VG)
The severe cold resulted in high electricity prices, large energy production, and high net exports abroad. Read more

– The price of electricity in kronor can be higher than the Ap percentage subsidy (electronic newspaper)
Rødt leader Mímir Kristjánsson points out two main problems, namely the order of energy markets in the long term, but primarily that people cannot afford the NOK 10 price of electricity now. – We sell electricity from publicly owned energy companies at up to 1000% profit. Why is it like that? Read more

The electricity tax has been reduced: – People don’t feel particularly fortunate (NRK)
People’s electricity tax will be reduced from the end of the year, but Mimir Christiansson (Rudette) is not affected by the cut, which is 6.25 øre per kWh. Read more

Cabin owner gets double charge: – No one is allowed to take a shower on the day they come home (today’s work)
The average cabin’s electricity bill could increase by around NOK 20,000 this year, according to one calculation. Then comes the additional interest expense. “We’re not afraid yet,” says cabin owner John Sverre Lund. Read more

We must stop the transfer of money to corrupt countries (Norwegian Discussion. By columnist Anders Magnus, Netvizen)
Millions of dollars stashed in the president’s couch. The country’s former security chief is on the run from a murderer. These are some of the ingredients in South Africa’s latest astonishing corruption scandal. Read more

The price war over Christmas food: – We lose money every single day (H24)
With today’s cost picture, Coop will be lucky if they tie even this year, says communications director. According to Norgesgruppen, December is usually the month when grocery chains are left with the least number, despite the sheer volume. Read more

Profits cut for electronics giant Elkjøp: – A very extreme situation (today’s work)
A weaker krone, lower demand and higher inventories have deprived the $1 billion Elkjøp Nordic group of almost all of its operating profits. – It’s an incredibly difficult time for the retail business, says CEO Eric Sonstrod. Read more

Oslo Municipality is changing street freight rates – again (VG)
Oslo’s city council has turned around and regulated street freight rates after much criticism. Read more

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Helles Bergen should save money: – Doctors should not repeat themselves (NRK)
In the future, Helse Bergen must take drastic measures to save NOK 500 million. This means that they will say no to more patients. Read more

The NHO and Consumer Council warn against online activity from non-EU countries (NTB)
While it is often cheap and efficient, online shopping can be a difficult jungle to navigate, and this is especially true of foreign websites outside of the EU/EEA. Read more

Fuel subsidy for Havila, but not for Hurtigruten (finansavicin)
The state grants subsidies to Havila Kystruten to increase fuel costs, but rejects a similar request from Hurtigruten. – incomprehensible, says Huda Filin from Hurtigruten. Read more

The European Union provides funding to become independent of Russian energy (NTB)
The agreement facilitates a “fundamental reform” of the EU’s energy sector, according to Czech Finance Minister Zbenik Stanjora. The countries agreed to add 20 billion euros, about NOK 208 billion, in grants on top of the remaining funds in the EU’s joint coronavirus fund. Read more

International Energy Agency: Russian oil exports are at their highest level since April (today’s work)
Russian oil exports rose in November to their highest level in several months. Major buyer India has never before imported more oil from Russia. Read more

Russia’s economic disaster on gray paper (finansavicin)
The Russian economy has not collapsed, despite the sanctions. With the help of old Soviet tricks, the giant swings to the east. Read more

Who is the economist who got the crystal ball this year? (Comment from Bård Bjerkholt, Dagens Næringsliv)
They are sometimes right and sometimes wrong, but they are always one hundred percent sure of their cause. Read more

Norway ranks first and bottom in the World Cup and is heavily indebted (Comment by Terje Erikstad, Dagens Næringsliv)
Total high debt in both households and businesses means that total debt in the private sector here at home is the fifth highest among 173 countries. When we also know that almost all debt in Norway has a floating interest rate, it is probably not too hard to say that Norwegians are the most interest-sensitive population in the world. Read more

The European Union summit will form an American cartel to drain China (NTB)
The European Commission is tired of China’s monopoly on critical raw materials. President Ursula von der Leyen now proposes forming a club with the United States to beat the rival. Read more


Also read: This is what the newspapers wrote about politics on Thursday, December 15th

Also read: This is what the newspapers wrote about the stock exchange on Thursday, December 15th

You can find previous versions over here (Policies), over here (economy) f over here (Stock market)