Hello everyone, here I am with my next and last blog. This week we arrived at our final destination Norway. I’m going to tell you something more about the Norwegian economy. First of all when you go to Norway do not forget that you need “Krones”, because in Norway you cannot pay with Euros.
Norway has found the perfect combination between free market activity and government intervention to build a solid and strong economy. An important sector is the natural resource sector. These products are exported: hydropower, forests, fish and minerals. The most important sector is the petroleum industry, the country depends on this sector. This sector accounts for nearly half of the export and more than 30% of Norway’s revenue.
Norway needed some strong recovery measures during the crisis. Because of these measures Norway did not have a lot of difficulties during the economic recess.
Norway depends on the petroleum industry. My opinion is that it’s very dangerous that a country’s economy depends on one sector. When the sector is in trouble, the whole country is in trouble and the economy will collapse.
An positive point of Norway is that they took recovery measures at the beginning of the economic crisis, so they didn’t experience a lot of trouble during this recess.
So , this was my final blog. I hope you enjoined every blog and you learned something more of the economies of the countries we visited. You should really go on a trip to all of the countries we visited because there are all very beautiful countries. Bye.
Kimberley Bracke
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