Latest News

Norway to spend less from oil fund, finance minister says


Norway to spend less from oil fund, finance minister says By Reuters

Breaking News


Economy 11 minutes ago (Aug 30, 2022 12:06)

© Reuters. FILE PHOTO: A view over the habour in Stavanger, Norway October 11, 2015. REUTERS/Stine Jacobsen

OSLO (Reuters) – Norway’s finance minister said on Tuesday that the government will rein in fiscal spending next year to help bring down inflation and keep interest rates in check as the cabinet embarks on a two-day budget conference this week.

“We must do what we can to bring inflation under control,” Finance Minister Trygve Slagsvold Vedum said in a speech.

The cabinet’s fiscal budget conference is planned to take place on Wednesday and Thursday.

The centre-left minority coalition government has vowed to limit the spending from its $1.2 trillion sovereign wealth fund amid a surge in consumer prices and a looming energy crunch.

“We must reduce the spending of oil fund revenue,” Vedum said in his speech.

“We can’t do things in our budgets that increase the upwards pressure on rates.”

The budget proposal for 2023 is due on Oct. 6.

The Norwegian central bank has raised rates faster in recent months than it had anticipated in spring, and has indicated more hikes will follow.

Norway’s key policy rate is currently at 1.75%, up from zero a year ago.

Norway to spend less from oil fund, finance minister says

Polish cabinet backs 2023 budget with 65 billion zloty deficit, PM saysBy Reuters – Aug 30, 2022

WARSAW (Reuters) – The Polish government approved a 2023 budget draft with a deficit of around 65 billion zloty ($13.8 billion), Prime Minister Mateusz Morawiecki said on Tuesday….

JOLTS, Consumer Confidence, Eurozone Inflation – What’s Moving MarketsBy – Aug 30, 2022

By Geoffrey Smith — The U.S. publishes its latest report on job openings and labor turnover, along with another update on consumer confidence and house prices….

Britain’s bleak outlook sets sterling to downward spiralBy Reuters – Aug 30, 2022

By Joice Alves LONDON (Reuters) – Sterling edged lower on Tuesday against the euro and was set for its biggest monthly fall against the single currency in 16 months as the energy…

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Polish cabinet backs 2023 budget with 65 billion zloty deficit, PM says

Previous article

Emergency EU Plan to Tame Power Prices Will Take Weeks to Devise

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News