March 12, 2018 / 9:09 AM / 6 days ago

Norway government vows spending restraint as growth picks up

OSLO (Reuters) - The Norwegian government will show more restraint next year in its spending of money from the country’s trillion-dollar sovereign wealth fund as economic growth accelerates, the prime minister and finance minister said on Monday.

Norway's Finance Minister Siv Jensen presents a parliamentary report on the Norwegian Pension fund (Oil fund) in Oslo April 4, 2014. REUTERS/Erlend Aas/NTB Scanpix

“There isn’t much room for adding fresh funds to this budget,” Finance Minister Siv Jensen told a news conference ahead of the government’s first meeting to prepare a fiscal spending plan for 2019.

Prime Minister Erna Solberg said the government must become better at prioritising its spending, in order to prevent a strengthening of the crown currency that could hurt private companies.

Reporting by Joachim Dagenborg, writing by Terje Solsvik, editing by Gwladys Fouche

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