for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Norway cuts spending from oil fund to $33.6 bln in 2021 election year budget

OSLO, Oct 7 (Reuters) - Norway plans to rein in spending from its $1.1 trillion sovereign wealth fund next year as the economy rebounds from the COVID-19 pandemic, the centre-right minority coalition told parliament on Wednesday.

The government proposed withdrawing 313.4 billion Norwegian crowns ($33.56 billion) from the wealth fund in what will be an election-year budget, down from 404.3 billion crowns in 2020.

$1 = 9.3389 Norwegian crowns Reporting by Terje Solsvik, editing by Gwladys Fouche

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up