The Norwegian economy is booming and public spending much be constrained in order to prevent interest rates from rising even faster than signalled by the central bank, the finance ministry said on Monday.

Mainland gross domestic product (GDP), excluding the impact from Norway's oil production, is now expected to grow by 3.6% in 2022, slightly less than the 3.8% forecast made in October.

(Reporting by Terje Solsvik, editing by Nora Buli)