The use of oil money is increasing in the government’s proposal for the state budget for 2025. This is shown in the key figure, which was published at 8 o’clock. To make the state budget go up, the government will tap the Oil Fund for NOK 460.1 billion. This corresponds to 2.5 per cent of the fund. See everything about the state budget and reactions here: The use of oil money is below 3 per cent and in line with the action rule. But since the Oil Fund has only so far this year increased by a staggering NOK 3,000 billion, this means that the politicians can spend much more oil money, and at the same time be well within the rules. – We use 2.5 per cent of the Oil Fund’s value, well under the action rule, says Finance Minister Trygve Slagsvold Vedum (Sp). SERIOUSNESS: Although Vedum, in his familiar style, is very positive about the budget he will present, it is also for a while marked by seriousness, when he has to lift the veil on what will and will not be prioritized in next year’s budget. Photo: Cicilie Sigrid Andersen / news The use of oil money the government is proposing will fuel the Norwegian economy somewhat next year. The so-called budget impulse is slightly positive, and stands at 0.5 per cent. – This means that the budget helps to stimulate the economy. The interest rate effect is not negative, says chief economist Harald Magnus Andreassen at Sparebank 1 Markets. In the budget proposal for 2024, the government proposed spending NOK 409.8 billion. This was increased by nearly NOK 9 billion, to NOK 418.7 billion, in the revised budget in May this year. Published 07.10.2024, at 08.01 Updated 07.10.2024, at 08.12
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The government increases the use of oil money – news Norway – Overview of news from different parts of the country
