Prime Minister Erna Solberg and Finance Minister Jan Tore Sanner give briefing on financial corona measures.
The case is being up to date
The oil worth, the krone and the inventory exchanges have plunged.
In current weeks, the corona virus has put stress on the world financial system. An oil worth struggle severely worsened the scenario over the weekend.
Tuesday got here a totally recent instance of the results of the corn virus. Then the airline Norwegian introduced that they had been canceling 3000 flights till mid-June. That’s 15 % of all the corporate’s flights.
The coronavirus impact on the Norwegian financial system is the rationale why Prime Minister Erna Solberg and Finance Minister Jan Tore Sanner on Tuesday at. 13.30 presents measures.
The Norwegian financial system is hit exhausting
The financial upheavals now occurring because of viruses and oil worth wars can have an effect on the Norwegian financial system and enterprise in lots of areas:
- The contagion scenario can first hit the tourism business exhausting. Empty lodges are crucial for an business the place margins are small.
- Much manufacturing has moved out of Norway. It could be meals, medication and technical elements. If manufacturing stops out of the country, it may well trigger shutdowns and shutdowns in Norwegian corporations.
- If the oil worth falls, the oil business shall be hit exhausting. It can pressure layoffs.