Middle East

Norway increases oil fund spending

January 14, 2022

Credits; Maxim_Kazmin / Adob ​​eStock

The Norwegian government said on Friday that it raised its projected fiscal spending in 2022 with the aim of compensating for companies affected by the coronavirus blockade and subsidizing households hit by soaring electricity prices. Stated.

The centre-left minority coalition is now planning to use the 355.1 billion Norwegian crown ($ 40.9 billion) from the country’s $ 1.4 trillion sovereign wealth fund, up from the originally planned $ 322.4 billion.

($ 1 = 8.6826 Norwegian krone)

(Report by Terje Solsvik)

https://www.oedigital.com/news/493505-norway-to-raise-oil-fund-spending Norway increases oil fund spending

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