The twelve-month growth in the credit indicator C2 was 7.1 per cent to end-November, up from 6.9 per cent the previous month. The rise stems from increased debt growth for households and municipal government.
The general public’s gross domestic debt C2 amounted to NOK 4 093 billion at end-November, up from NOK 4 060 billion the previous month.
Households’ gross domestic debt totalled NOK 2 370 billion at end-November, up from NOK 2 350 billion the previous month. The twelve-month growth was 7.2 per cent to end-November, up from 7.1 per cent the month before.
Reduced debt growth for non-financial enterprises
Non-financial enterprises’ gross domestic debt amounted to NOK 1 380 billion at end-November, up from NOK 1 372 billion at end-October. The twelve-month growth was 6.4 per cent to end-November, down from 6.5 per cent the month before
Rise in debt growth for municipal government
Municipal government’s gross domestic debt totalled NOK 344 billion at end-November, up from NOK 338 billion the month before. The twelve-month growth was 8.6 per cent to end-November, up from 7.0 per cent to end-October.
Growth rates affected by portfolio shifts
Of the general public’s gross domestic debt, about half consisted of bank loans at end-November. This amounted to NOK 2 015 billion. The twelve-month growth in bank loans was 1.5 per cent to end-November, up from 0.8 per cent to end-October. Mortgage companies’ loans amounted to NOK 1 352 billion at end-November, up from NOK 1 347 billion at end-October. The twelve-month growth in mortgage company loans was 12.3 per cent to end-November, down from 14.5 per cent the month before.
The growth rates are affected by transfers of loans from banks to mortgage companies. The growth rate for banks and mortgage companies in total was 5.6 per cent to end-November, down from 5.9 per cent the previous month.
High activity in the securities market
The twelve-month growth rate in bond debt was 11.7 per cent to end-November, up from 5.8 per cent to end-October. The twelve-month growth rate in certificate debt was 37.2 per cent to end-November, up from 30.9 per cent the previous month.
Press Release Statistics Norway
The International Monetary Fund (IMF) has presented its views on the Norwegian economy and Norwegian economic policy, and concludes that the Norwegian economy continues to perform well.(Photo: Finance Minister Sigbjørn Johnsen)..
The Executive Board of the Norwegian Central Bank (Norges Bank) has decided to keep the key policy rate unchanged at 1.5 percent. (Photo Norges Bank Deputy Governor Jan Qvigstad)
..
The SAS Group has announced that it has signed an agreement to sell 80% of its shares in its domestic airline Widerøe's Flyveselskap AS to a group of Norwegian investors.
..
Norwegian telecom provider Telenor has signed an agreement with OTE to acquire Bulgarian mobile operator Globul for a total amount of EUR 717 million on a cash and debt free basis.
..
Minister of International Development Heikki Holmås says Norway is the first country in the world to review its loans to developing countries, in line with the UN Guiding Principles on foreign debt and human rights.
..
The Executive Board of the Norwegian Central Bank (Norges Bank) has decided to keep the key policy rate unchanged, at 1.5 per cent. The record low key policy rate has remained unchanged since March 14th last year.
..
On average, gross income for Norwegian farmers amounted to NOK 511 000 in 2011. This represents an increase of NOK 26 500, or 5 per cent, from the previous year, according to Statistics Norway (SSB).
..
The Norwegian Government has agreed to cancel Cote d’Ivoire’s remaining debt to Norway of USD 32.7 million. (Photo: Minister of International Development Heikki Holmås.)
..
The Norwegian authorities have decided to increase the financial support for asylum seekers who return to their homeland, by NOK 10,000 for each child in the family.
..
Odfjell Holding (US) Inc reports that ithas secured a USD 200 million 5-year secured credit facility for further expansions from a group of five US banks.
..
