Norway to reduce oil money spending in 2022

To make ends meet in its 2022 state budget, Norway decides to withdraw NOK 322.4bn from the oil fund – a smaller sum than in 2020 and 2021.

by VICTOR EMIL KRISTENSEN, translated by jonas sahl jørgensen

Norway's government is allowed to use 3 percent of the country's Government Pension Fund Global, commonly known as the oil fund, to cover a structural deficit in the state budget.

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