Norway’s government wants to spend 352.2 billion “oil” kroner in the revised budget – an increase of 29.8 billion kroner

Trygve Slagsvold VedumPhoto: Terje Pedersen / NTB
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In its proposal for a revised national budget, the Norwegian government wants to increase the use of oil money by almost NOK 30 billion.

The information was revealed in the key figures in the government’s proposal for a revised national budget. The figures were published at 8 o’clock on Thursday. 

The use of oil money is estimated at NOK 352.2 billion this year. This is about NOK 30 billion less than before the revised budget but still about NOK 30 billion higher than the estimate by the government from last autumn, according to the press release to the Ministry of Finance.

The use of oil money is estimated to amount to 2.9% of the Government Pension Fund Global, best known as the Oil Fund.

“The Norwegian economy is in a boom, despite turbulent circumstances. Economic growth is strong, employment is high, and unemployment is low. Companies report an increasing shortage of labor, and wage and price growth is increasing,” the Ministry of Finance warned.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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