Norway’s Economy Is Booming

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Norway’s Economy Is Booming

By Mark Perry on May 16, 2009 | More Posts By Mark Perry | Author's Website

NY TIMES - In the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3%. The government enjoys a budget surplus of 11% and its ledger is entirely free of debt. By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9% of its GDP and push its total debt to $11 trillion, or 65% of the size of its economy.

MP: Norway’s current unemployment is only about 3% vs. 8.9% in the U.S., see chart above

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