Vedum: Norway is not getting richer as a result of the war in Ukraine

Trygve Slagsvold VedumPhoto: Terje Pedersen / NTB

Minister of Finance Trygve Slagsvold Vedum (SP) says Norway isn’t getting richer as a result of the war in Ukraine. 

Vedum pointed out that the Oil Fund has shrunk by NOK 1,000 billion since the turn of the year. 

Persistent war and unrest in the markets could result in greater losses. The Norwegian economy has not benefited from war, according to Vedum.

“Yes, we get higher oil revenues, but the Oil Fund has lost more than the increase in income,” Vedum told the newspaper Aftenposten.

In an interview with Aftenposten, Vedum promised that ordinary people would get through turbulent times.

Vedum: Turbulent times

“All analyses for the next year’s state budget show increased purchasing power. But these are turbulent times,” Vedum said.

He says it is quite natural that the government now looks at taxes and fees so that people with ordinary incomes mark it on their wallets.

“When we look at the tax and fees in the future, people with low and medium incomes in Norway will have better purchasing power. That is the goal.” 

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

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1 Comment on "Vedum: Norway is not getting richer as a result of the war in Ukraine"

  1. Vernon Childers | 13. March 2022 at 14:13 | Reply

    A good read is “War is a Racket”. It goes into length on how individuals get rich on other individuals’ misery.

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