Norway to Raise Oil Fund Spending

January 14, 2022

Credit; Maxim_Kazmin/AdobeStock
Credit; Maxim_Kazmin/AdobeStock

The Norwegian government said on Friday it has raised its projected fiscal spending for 2022 as it seeks to compensate businesses affected by coronavirus lockdown measures and subsidize households hit by a surge in electricity prices.

The center-left minority coalition now plans to spend 355.1 billion Norwegian crowns ($40.9 billion) from the country's $1.4 trillion sovereign wealth fund, up from 322.4 billion originally planned.

($1 = 8.6826 Norwegian crowns) 

(Reporting by Terje Solsvik)




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