The payment market in Sweden and Norway is being digitized. To give an international comparison, the cash in circulation as a percentage of GDP variable is used as a proxy for the demand for cash. In 2018, the cash in these two economies was equivalent to 1.3% and 1.5% of their GDP, respectively. In contrast, in the United States and the Eurozone, this variable was at 8.2% and 10.9%, respectively.
Following the oil price slump, both wealthy countries will relatively see their privileged economic position trimmed, but they can still capitalize on their status as oil producers, boosting production to defend market share and leading the European M&A market, respectively.
MADRID | The Corner | The Norway Government Pension Fund Global (GPFG) is the World’s biggest sovereign wealth fund. Managed by an investment unit of the central bank (NBIM) it counts with $900 billion under management, focusing on Europe. Lately its interest in Spain goes beyond the usual sectors: financial, construction and energy.
At first glance, Norway and Switzerland seem to have much in common. Both are prosperous alpine nations with relatively small populations (5.1 million and 8 million), while they also have some of the lowest unemployment levels in Europe (3.6% and 3.5%). In fact, both nations are enjoying tremendous success amid turbulent economic times. Norway , however, will not seek to emulate Switzerland’s policy on immigration quotas.