Norway dips into oil fund for first time

oil-gas-rig-offshore
Norway still relies heavily on oil revenues

The Norwegian government is planning to dip into its oil fund for the first time in 20 years, the finance ministry revealed on October 7, as it unveiled its latest budget.

Net revenues from 'petroleum activities' have slumped in the face of falling oil prices, from Nkr311.7 billion ($38 billion) in 2014 to a projected Nkr204.1 billion this year.

At the same time, the government has unveiled tax breaks to stimulate the oil-dependent economy, which are expected to push the overall deficit to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: