We envisage stability in Norwegian public policy for the foreseeable future. However, labour disputes present a near-term risk and could shape the fortunes of the crucial oil and gas sector. ...The issues that culminated in the strike remain unresolved, as the government ordered an end to the strike rather than negotiating with workers over key demands such as maintaining the full pensionable age at --, versus a government desire to raise this. Against this backdrop, two of the biggest Norwegian oil work- ers unions, SAFE and Lederne, broke off talks with employers represented by the Norwegian Oil And Gas Association on May - as they were unable to come to an agreement over pension provisions (the largest union, Industri Energi, successfully reached an agreement). Nor- wegian oil unions significantly disrupted the country s energy output in ----, with -- of the country s roughly -,--- offshore oil workers going on strike for -- days. While there cannot be a strike before the mediation has been completed under Norwegian labour law, the stakes are relatively high, as this process could be repeated over the course of May.
...However, labour disputes present a near-term risk and could shape the fortunes of the crucial oil and gas sector. table: Political overview - chapter -: economic outlook -- sWot analysis -- BMi economic risk ratings -- economic activity -- Domestic Demand set to We have raised our ---- real GDP growth forecast for Norway to -.- , from -.- previously, but have lowered the ---- forecast slightly to -.- , from -.- previously. With the eurozone recovery set to bolster external demand, we expect Norwegian exports to improve following a weak three-year period. However, headwinds in the form of a weakening housing market and high household debt will keep domestic demand subdued. TaBle: GDP CoNTrIBUTIoN To GroWTH -- table: lonG-terM MacroeconoMic forecasts -- exchange rate policy -- noK: rate Hikes to Buoy Krone TaBle: exCHaNGe raTe -- chapter -: Business environment -- sWot analysis -- BMi Business environment risk ratings -- chapter -: Key sectors -- oil & Gas -- table: oil Production and net exPorts � --------- -- table: oil Production and net exPorts � --------- -- other Key sectors -- TaBle: PHarma SeCTor Key INDICaTorS -- table: telecoMs sector Key indicators -- table: infrastructure sector Key indicators -- table: food & drinK sector Key indicators -- table: autos sector Key indicators -- - Business Monitor International Ltd www contents chapter -: BMi Global assumptions -- Global outlook -- Growth increasingly polarised table: Global --
...- Business Monitor International Ltd www - Business Monitor International Ltd www sWot analysis strengths long and solid tradition of democratic governance, with emphasis on consensus-forming and negotiated solutions to political differences. Fixed four-year government terms reduce uncertainty over the timing of government changes. ...
