Fiscal Measures to Limit the Economic Downturn

January 26, 2009

In a proposition to the Storting (Parliament) the Norwegian Government proposes amendments to the 2009 Fiscal Budget. The proposed measures amount to NOK 20 billion ($2.87 billion), of which NOK 16¾ billion is an increase in budget expenditures and NOK 3¼ billion is targeted tax relief for the business sector. The structural non-oil deficit will increase by an additional NOK 7 billion as a consequence of revised estimates for some budget items.

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