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Norway Heats Up as Wealth Fund Nears $1 Trillion: Nordic Credit

Norway’s incoming Prime Minister Erna Solberg will have no shortage of cash for her campaign promises. The question is: how much does she dare use?

The Labor government, which resigned yesterday, presented what it called a “cautious” budget, saying it would use 135 billion kroner ($22 billion) of Norway’s oil wealth to plug deficits next year, equal to 5.5 percent of mainland gross domestic product. That leaves Solberg’s administration with 54 billion kroner to spend before it breaches the nation’s fiscal policy rule.