EnergyWatch

Crisis exit brings relief as Norway slows oil wealth spending

Norway's recently re-elected Conservative-led government is slowing growth in oil wealth spending after the country's USD 1 trillion fund has been tapped over the past two years by politicians scrambling to plug budget holes.

After being tapped over the past two years by politicians scrambling to plug budget holes, Norway's massive USD 1 trillion wealth fund is about to get some relief.

Backed by an economic upswing, the government is now slowing the growth in oil revenue spending, but it will still rise to 231.1 billion kroner (USD 29 billion) in 2018, according to a person familiar with the budget set to be released at 10 am in Oslo. 

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