Europe Norway government vows spending restraint as growth picks up

Norway government vows spending restraint as growth picks up

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Norway’s Finance Minister Siv Jensen

 The Norwegian government will show more restraint next year in its spending of money from the country’s trillion-dollar sovereign wealth fund as economic growth accelerates, the prime minister and finance minister said on Monday.

“There isn’t much room for adding fresh funds to this budget,” Finance Minister Siv Jensen told a news conference ahead of the government’s first meeting to prepare a fiscal spending plan for 2019.

Prime Minister Erna Solberg said the government must become better at prioritising its spending, in order to prevent a strengthening of the crown currency that could hurt private companies.