Norwegian FinMin: Norway must curb spending growth

In a news conference on Wednesday, Norwegian Finance Minister Siv Jensen noted that Norway should reduce the growth in spending of money from its $1 trillion sovereign wealth fund, as the economy see an upturn, according to Reuters.

Key Quotes:

“With better times in the economy, spending of oil revenue can’t continue to increase as rapidly as before.”

“The central bank has warned that interest rates will soon rise. This makes it important that we don’t contribute to more rapid rate rises and a stronger crown currency.”