Norway to Boost Spending from Its $2 Trillion Oil Fund
The Norwegian government proposes to increase spending from its massive oil fund in the 2026 budget, relying on substantial petroleum revenues to finance its welfare state.
The Labour government, led by Jonas Gahr Støre, plans to raise spending from the country's oil fund, the world's largest sovereign wealth fund, according to the draft budget.
- The proposed budget for 2026 aims to use $57 billion from the oil fund.
- The government needs support from its junior partners in the coalition to pass the bill in Parliament.
The Labor government will need support from its junior partners in the coalition to pass the bill in Parliament.
Author's summary: Norway's government plans to increase spending from its oil fund.