The backdrop for the budget is an economy with prospects for stronger growth and continued low unemployment. After a few years of high inflation economic policy appears to have successfully brought inflation down without causing a significant increase in unemployment or negative growth. With prospects for wage growth well above inflation this year, household purchasing power is expected to improve and contribute to higher growth in the Norwegian economy in 2025.
The government has significantly strengthened defence, security and preparedness as a result of international events in recent years. These areas are also prioritised in the budget for 2025.