11.11.2013 - Norway’s new government to spend more of nation’s oil wealth
Norway’s new government presented a revised budget that will raise spending of the nation’s oil wealth to cover tax cuts and boost infrastructure and education. The government will use 2.9 percent, or 139 billion kroner ($23 billion), of its sovereign wealth fund to plug deficits in 2014. That’s 3.9 billion kroner more than the ousted Labor-led coalition proposed last month. The use of oil money will amount to 5.7 percent of trend mainland gross domestic product, up from an estimated 5.2 percent this year...............................................Full Article: Source
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