Norway Prime Minister Says Time Has Come to Cut Oil Reliance
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Norway’s Prime Minister Erna Solberg said pushing through a budget designed to avoid krone appreciation marks her first step toward weaning western Europe’s biggest crude producer off its oil reliance.
“We have to prepare Norway for an economy that is less oil income, directly, and less oil activity,” Solberg said yesterday in an interview in Oslo. “That’s a 20-year perspective, not a four-month perspective. Hopefully in 2014, we’ll see that our unemployment rate still is low and that we get bigger market access for some of our goods in the non-oil part of the economy.”