August 29, 2018 / 7:01 AM / 22 days ago

Norway must curb spending growth, finance minister says

OSLO (Reuters) - Norway should curb the growth in spending of money from its $1 trillion sovereign wealth fund amid an upturn in the economy, Finance Minister Siv Jensen told a news conference on Wednesday.

“With better times in the economy, spending of oil revenue can’t continue to increase as rapidly as before,” Jensen said at the start of a government budget conference.

“The central bank has warned that interest rates will soon rise. This makes it important that we don’t contribute to more rapid rate rises and a stronger crown currency,” she added.

Jensen is due to present the minority centre-right government’s fiscal spending plan for 2019 in early October.

Reporting by Camilla Knudsen, editing by Terje Solsvik

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