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Norway government agrees budget deal with Socialists -Breaking

by Mike Robinson

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OSLO (Reuters – Norway’s minor centre-left government reached a settlement with the Socialist Left Party to fund next year’s fiscal expenditures, the Prime Minister Jonas Gahr Stoere stated on Monday.

The total spending on cash from Norway’s sovereign wealth fund won’t rise above the 322.4 billion Norwegian crowns ($35.6 billion), which was proposed by Finance Minister Trygve Sklagsvold Vestum.

Vedum warned against increasing spending on the wealth fund. He argued that this would trigger an even faster rise in interest rates, which could ultimately harm the prospects for Norwegian businesses.

($1 = 9.0468 Norwegian crowns)

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