Norway’s domestic loan debt rises the most since Dec 2023

The general public’s domestic loan debt in Norway has grown at an annualized rate of 3.7% to NOK 7.41 billion at the end of July, data by Statistics Norway showed.

It has been the fastest domestic loan debt growth since December 2023 and followed a 3.6% YoY increase in June.

Municipal government loan debt increased 9.9% YoY in July, picking up from 9.7% YoY in June.

Additionally, loan debt of households rose 3.4% YoY in July, following a 3.3% YoY growth in June.

Also, loan debt of non-financial corporations grew 2.4% YoY in July, after a 2.3% YoY rise in June.

The EUR/NOK currency pair settled 0.68% lower at 11.6937 on Friday, as it erased the gain from the prior trading day. For the week, the exotic currency pair went down 0.51%, while extending the losses from the previous three weeks.