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The Norwegian krone has depreciated significantly. Now, 1 US dollar is close to 11 kroner, 1 euro is close to 12 kroner, and 1 pound is close to 14 kroner. NRK Interview Conservative leader Erna Solberg said it was a problem that the krona was currently so low.
– Yes, it is a problem because we are all getting poorer. It provides some stimulus to exports and tourism. But it is a problem because it creates a lot of instability and uncertainty.
She acknowledged there was no short-term, easy solution to the kroner problem.
– The long-term strategy is to increase productivity and competitiveness. If foreigners believe in Norway as a business location, money will flow in more easily. But the Conservative leader said this would not happen overnight.
The krona’s devaluation began about a decade ago, when Solberg was chancellor, and while it has accelerated recently, she is reluctant to hand over primary responsibility to the government.
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– This is the story of the Norwegian krone being a small currency in a turbulent sea. But Solberg said the policies pursued by the government were not counteracting what was happening. He supported Venstres Sveinung Rotevatn’s proposal to set up a royal commission of experts.
– Solberg said the most important thing was to get an analytical tool that would serve as a basis for the reasons for the weakness of the Norwegian krone and provide recommendations on how to strengthen the Norwegian krone.
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