Despite robust growth, the Norway tightens the belt

We can call it the problems of the rich. Strong growth insolent, but to anticipate a slowdown of the economy, Norway decides to tighten the belt. The right-wing

Despite robust growth, the Norway tightens the belt

We can call it the problems of the rich. Strong growth insolent, but to anticipate a slowdown of the economy, Norway decides to tighten the belt. The right-wing government puts a brake on public spending in its budget for 2020, presented on Monday.

"things are going well in Norway," says the minister of Finance, Siv Jensen, adding, however, that it must "exercise restraint in times of prosperity so that it has reserves in case the situation deteriorates".

The country, where GDP per capita is the highest in the world, lives comfortably thanks to the wealth of its oil revenues, placed in a sovereign wealth fund with 1100 billion dollars. This cassette allows you to mop up each year a current account deficit of public finances, the greater of 7 % of GDP (excluding revenues from hydrocarbons), where the ordinary Member has recourse to the loan. To avoid, however, to deplete too quickly the piggy bank, the ...

Updated Date: 08 October 2019, 00:00

Kathleen Lees

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