The corresponding krone amount is NOK 14.2 billion. The Petroleum Fund had another good year in 2004. The return was 8.9 per cent measured in international currency. The Fund achieved an excess return of 0.53 percentage point, which is somewhat higher than the historical average. Conclusion Allow me to conclude with some brief comments on the Norwegian economy. The economy is showing solid growth without visible signs of accelerating wage and price inflation. Due to high oil prices, we are running substantial surpluses in public finances and in the current account. But there certainly are challenges ahead of us. Let me mention just one: Our cost level is very high. There is a significant risk that we are weakening the competitive sector of the mainland economy and becoming too dependent on the petroleum sector and on the return from our financial investments. 6  BIS Review 21/2005
More concretely, business should understand that bank is an integral part of its activity, if it is willing to be successful for a long-term period. Finally, I would encourage more institutionalised links of the banking system with various business organisations. Maybe it is time that Association of banks establishes regular contacts with business representations, contacts that would certainly upgrade the relations between business and bank to a higher level. Also, I use the opportunity to renew the Bank of Albania commitment to participate in this initiative by offering its expertise in projects, round tables, forums, debates, etc., which will aim at improving the business climate as well as increasing and channelling more efficiently the bank credit. Thank you. 4/4