March 6, 2019 / 10:59 AM / 6 months ago

No-deal Brexit may cut Norway GDP by 1 percent - business lobby

OSLO (Reuters) - A no-deal Brexit could reduce Norway’s gross domestic product (GDP) by 0.7-1.0 percent when compared to a scenario in which Britain were to stay in the European Union, the Confederation of Norwegian Enterprise, known locally as NHO, said on Wednesday.

If Britain leaves with a deal, and ends up signing a free-trade agreement with the EU, the negative impact on the GDP of union outsider Norway was estimated at between 0.2 and 0.6 percent, the NHO predicted.

“The alternatives that secure the closest integration between Britain and the EU will have the least negative impact,” the lobby group said.

Reporting by Terje Solsvik, editing by Gwladys Fouche

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