The prime minister of Norway said that he will increase spending from the wealth fund to help Ukraine

OSLO, Feb 2 (Reuters) – Norway will use its sovereign wealth fund to Ukraine in the coming years military and will increase spending to finance civilian aid, Norwegian Prime Minister Jonas Gahr Stoere told parliament on Thursday.

The 1.3 trillion dollar wealth fund of the Nordic country, one of the world’s largest investors, after Russia’s aggression in Ukraine, Norwegian oil and gas A sharp increase in income was observed against the background of the increase in the price of exports.

Prime Minister He did not say how much money Norway would spend on aid to Ukraine, but said it would be a multi-year commitment.

“This will lead to a temporary increase in spending from the sovereign fund,” Stoere said.

The additional costs should not affect Norway’s domestic economy, nor should they have any impact on interest rates.

Reporting by Terje Solsvik Editing by Nora Buli

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2023-02-02 14:12:54
Source – reuters

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