The new Norwegian government wants to spend 322.4 billion kroner from the Oil Fund

Oil fieldPhoto: Håkon Mosvold Larsen / NTB

Prime Minister Jonas Gahr Støre (AP) wants to spend NOK 322.4 billion from the Oil Fund. That is exactly what the Solberg government proposed in its last budget proposal.

NOK 322.4 billion corresponds to 2.6% of the Oil Fund, and it falls within the framework of using less than 3% of the oil money. 

The Støre government’s proposal will be presented at noon on Monday. After that, negotiations will ensue, probably with the Socialist Left Party (SV). 

Vedum: It’s going well

The forecasts for value creation, employment, and unemployment next year are the same as the Solberg government expected in its budget proposal a month ago.

Growth in mainland GDP is estimated at a solid 3.8%, and unemployment will fall to 2.4% next year, if forecasts materialize.

“The Norwegian economy is doing well, the budget is adapted to this,” Minister of Finance Trygve Slagsvold Vedum (SP) said when he met the press on Monday morning.

Low interest rates

“We have had very low interest rates. The krone has also been very low, and this has strengthened our competitiveness. We are concerned about having a responsible and good budget, and that is what we will present at 12 o’clock,” he told journalists. 

“I’m not really excited, really. This is a good state budget and a good budget day,” Vedum said.

“People need to see that we see their everyday lives,” he added.

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

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