Oil-rich Norway to tighten spending

Norway on Tuesday unveiled next year’s budget plans aimed at curbing expenditure after the oil-rich country recovers from an economic downturn with a slightly upturned outlook for 2011.

The Finance Ministry proposed to cut excess spending from oil and gas proceeds to NOK 7.4 billion ($1.2 billion; euro880 million) — from 19 billion kroner this year.

To read the full article, click here.

Source: Associated Press

Films of Norway_bunad
Norwegian American Logo

The Norwegian American

Published since May 17, 1889 PO Box 30863 Seattle WA 98113 Tel: (206) 784-4617 • Email: naw@na-weekly.com

%d bloggers like this: