Norway Loan Debt Rises 4.5% in May

Norway’s general public domestic loan debt rose by 4.5% year-on-year to NOK 7.96 billion at the end of May 2026, following a 4.4% increase a month earlier. Lending to non-financial corporations increased further, rising to 4.3% from 3.8% in April, while household debt growth remained unchanged at 4.7%. Meanwhile, loan debt growth for municipal government eased slightly to 4.6% from 4.7%. On a seasonally adjusted annualised one-month basis, total loan debt for the general public grew by 4.6% in May, matching the pace recorded in April.

Norway’s general public domestic loan debt increased by 4.4% year-on-year to NOK 7.92 billion at the end of April 2026, easing slightly after an upwardly revised 4.5% rise in the previous month. This marked the weakest growth in general public domestic loan debt since November 2025, as loan growth mainly slowed for municipal governments (4.7% vs 5.2% in March). Meanwhile, credit activity strengthened slightly for non-financial corporations, rising to 3.8% from 3.7% previously. At the same time, household loan debt growth remained steady at 4.7% for a fourth consecutive month. On a seasonally adjusted annualized one-month basis, total lending growth in April increased by 4.5%, picking up from an upwardly revised 4.0% in the previous period.

Norway’s general public domestic loan debt increased by 4.4% year-on-year to NOK 7.90 billion at the end of March 2026 following a 4.6% rise in the previous month.Loan growth to non-financial corporations eased to 3.7%, reaching NOK 2.45 billion, compared with 4.1% and NOK 2.39 billion previously. At the same time, household loan debt remained steady at 4.7% for a third consecutive month. In contrast, credit activity strengthened for municipal governments (5.1% vs 4.9%). On a seasonally adjusted annualised one-month basis, total lending growth in March increased by 3.7%, slowing from an upwardly revised 4.2% in the previous period.