| Norway's central bank can continue to cut interest rates and the government should use short-term fiscal spending to lift the economy as the boom of the last two decades grinds to a halt, the country's central bank chief said. He also said more than $9 billion would be taken from Norway's sovereign wealth fund this year, the first net withdrawal from the rainy day account.
Economic growth in Norway, Western Europe's top oil and gas producer, hit a six-year low in 2015 while unemployment rose to a 10-year high as the price of crude tumbled, Governor Oeystein Olsen said in his annual policy address to business leaders, politicians and academics...............................................Full Article: Source
|