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Norway’s outgoing government proposes wealth fund spending cut

OSLO (Reuters) -Norway should sharply cut spending from its $1.3 trillion sovereign wealth fund in 2022 as the economy rebounds from the pandemic, the outgoing centre-right minority government told parliament on Tuesday. In one of its last official acts before stepping down later this week, the government proposed withdrawing 322.4 billion Norwegian crowns ($37.6 billion) from the wealth fund next year, down from 406.8 billion crowns in 2021. The government of Conservative Party Prime Minister Erna Solberg lost last month’s election for parliament and will be replaced by a coalition of the leftwing Labour Party and the rural Centre Party.

Source : yahoo

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