January 9, 2019 / 8:56 AM / 7 months ago

Norway's economic outlook remains good despite oil price turmoil -DNB

OSLO, Jan 9 (Reuters) - Recent market turmoil and fluctuations in crude prices do not fundamentally change the outlook for the oil-dependent Norwegian economy, the head of the Nordic country’s biggest bank said on Wednesday.

“The price of crude has laid between $50 and $60. This is not a level that can destroy the positive outlook (for the Norwegian economy),” Rune Bjerke, the CEO of DNB, told Reuters on the sidelines of a business conference.

“Norwegian companies (that are) part of the mainland company are competitive,” he added, referring to companies working outside the oil sector.

“Investments by oil companies are increasing, the crown currency is sustainably weak.... If nothing happens, growth will be good,” he said.

“We have been quite positive about the outlook of the Norwegian economy for quite a while. At the same time, I have said that there have been some danger signs, geopolitical signs, that can destroy this good outlook,” he said, citing international trade tensions and Brexit. (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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