Norway to Boost Spending from Its $2 Trillion Oil Fund
The Norwegian government proposes to increase spending from its massive oil fund in the 2026 budget, relying on substantial petroleum revenues to finance its welfare state.
A new budget proposal has been put forward by the Labor party, which won a second term in office at the general elections last month. The proposal aims to raise spending from the country's oil fund, the world's largest sovereign wealth fund.
- The 2026 budget proposes to use $57 billion from the oil fund.
- The Labor government of Jonas Gahr Støre will need support from its junior partners in the coalition to pass the bill in Parliament.
The Norwegian government on Wednesday proposed to raise the spending from the country’s oil fund.
Tsvetana, a writer for Oilprice.com, reports on the development with over a decade of experience writing for news outlets.
Author's summary: Norway plans to boost spending from its oil fund in 2026.
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