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TODAY IN NORWAY

Today in Norway: A roundup of the latest news on Friday 

Strikes, King Harald going on tour, and Norway’s parliament voting to allow cash payments, this and other news from Norway on Friday. 

Published: 24 May 2024 09:21 CEST
Pictured is a view of Oslo opera house.
Find out what's going on in Norway on Friday with The Local's short roundup of important news. Pictured is a view of Oslo opera house. Photo by Andriy Oliynyk on Unsplash

Unio and the Federation of Norwegian Professional Associations announce strike 

Some 1,261 workers in Norway from Unio and the Federation of Norwegian Professional Associations will strike from Friday. 

The strike was announced at 7:30am on Friday after mediation overtime on Friday failed to lead to an agreement. 

The Federation of Norwegian Professional Associations will put 1,240 employees on strike, and Unio will take 21 workers out. 

Employees from the public sector will be taken out on strike by the unions. Police forces, universities, government ministries, the Sami parliament, and other entities will be affected. 

“We are going on strike to protect a collective agreement that the state is trying to take away from us. So we believe this is a move hostile to education,” Kari Tønnesen Nordli from the Federation of Norwegian Professional Associations told public broadcaster NRK. 

A further 700 workers will be taken out on Monday. 

Kind Harald to go on tour 

King Harald will begin a royal tour of southwest Norway on Sunday, with the King visiting several municipalities for the first time. 

Froland, Åseral, Lund, Randaberg and Vindafjord will host their first royal visit. The royal tour will last until May 30th. 

The royal couple will use the royal Norwegian ship for parts of the tour. 

Norway’s parliament votes to allow cash payments

On Thursday, Norway’s parliament decided that customers in Norway should have the right to pay with cash. 

The country’s parliament adopted amendments to the Financial Agreements Act, which will make the rules on cash payments clearer. 

“We must make arrangements so that people who find the digital world a bit difficult can be confident that they will be paid in cash when they go to the store,” MP for the Centre Party, Sigbjørn Gjelsvik, said. 

State employees in Oslo could strike from Friday 

Oslo municipality could be hit by a general strike from Friday after talks entered mediation overtime. 

Thousands of employees in Oslo municipality could go on strike if an agreement isn’t reached. 

Nurseries, schools, nursing homes, emergency rooms and several municipal agencies could be affected by the strike. Some 1,900 employees could strike from Friday. 

The initial industrial action could lead to the closure of schools and libraries. A strike would mark the first time that all Norwegian Confederation of Trade Unions employees in Oslo have opted to strike for nearly 40 years.

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For members

TODAY IN NORWAY

Today in Norway: A roundup of the latest news on Friday

Norway's PM says economy at 'turning point', gentler mortgage requirements could be introduced, and other news on Friday.

Published: 14 June 2024 09:35 CEST
Today in Norway: A roundup of the latest news on Friday

Norwegian economy at a ‘turning point’

Statistics Norway’s forecast for the economy has revealed that the national data agency expects the Norwegian economy to pick up again soon.

“With lower interest rates and clear wage growth, household consumption will increase. Economic activity will also pick up as a result of increased public consumption and an increase in housing investment,” Thomas von Brasch at Statistics Norway said.

Norwegian PM Jonas Gahr Støre has said that the economy was now at a turning point.

“It is good news for people’s finances and clearly confirms that we are at a turning point in the economy where people can get better advice. Statistics Norway estimates that price growth will continue downward, so interest rates can eventually be lowered. They also expect increased purchasing power for people this year and in the following years. The government’s aim is for people to get better advice,” Jonas Gahr Støre told the Norwegian newswire NTB.

Interest rate cut expected this year

Lower inflation in Norway and abroad means that the country will likely see interest rates cut this year.

“Lower inflation at our trading partners will cause inflation here at home to continue to fall. Reduced interest rates internationally also contribute to the fact that the key interest rate is eventually cut in Norway,” Thomas von Brasch at Statistics Norway said.

The key policy rate is currently 4.5 percent, and a cut to interest rates is expected in September or December.

After the latest inflation figures were released for May, many economists said the cut would likely arrive in December.

Softer mortgage regulations may be brought in

Norway’s Ministry of Finance has said it is more open to introducing gentler mortgage requirements in light of sharp interest rate increases in recent years.

“We will assess the need for changes to the regulations, including the requirement for payment in instalments, in the light of the Finanstilsynet’s assessments and the input that will come,” State Secretary Geir Indrefjord told the business and financial paper DN.

The current rules require anyone whose debts are at least 60 percent of their home’s value to pay off the interest and make monthly debt repayments against the home.

The rules may be changed to allow some homeowners to only pay the interest.

Norway announces measures to combat overdoses

Norway’s health minister, Jan Christian Vestre, has announced immediate measures to reverse an increasing number of people dying of an overdose.

“We must recognise that the welfare state has failed for many of them and has not stood up when they have needed it most,” Jan Christian Vestre told TV 2.

A new method for monitoring drug use will be established so that new measures can be introduced earlier, and treatment for addiction will also be more widespread and more accessible.

“There is a need for several other measures as well, but the most important thing now is that we get started. We must reverse this negative trend together,” he said.

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