Norway plans to spend US$63.6 billion from wealth fund in 2027

Norway's minority Labour Party government said on Wednesday it plans to raise its spending level in 2027 from the country's US$2.3 trillion sovereign wealth fund to help cover public expenses.

The government proposed withdrawing 608.4 billion Norwegian crowns (US$63.61 billion) from the fund in 2027, up from a revised 583.4 billion in 2026, and must now negotiate with four centrist and left-wing parties to pass the budget.

• Gross domestic product outside the oil industry is now expected to grow by 1.1 percent this year, against 1.7 percent growth seen in May
• Growth seen at 1.7 percent in 2027, an increase from 1.6 percent predicted previously
• "The budget proposal is estimated to have a neutral effect on the activity in the economy next year," the government said in a statement
• It saw core inflation in 2026 at 3.1 percent, down from 3.2 percent seen in May, easing to a rate of 2.8 percent in 2027 against 2.6 percent seen previously
• The structural non-oil deficit for 2027, a key measure of how much money the government will spend from the wealth fund, was expected to be 2.7 percent of the fund's projected value at the end of 2026, in line with the current year

Reuters

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓