EconomyNorway

Jensen: Today the sun shines again

Siv Jensen, Minister of Finance, Norway proposed State budget for 2019 in Parliament at 10:00. She states – “Today, the sun is shining again – throughout the country.”

“There is good growth in the economy. The companies are looking forward to the future. They hire more, invest more. Climate emissions are declining, more are in work, more people go to kindergarten, several finish school. Oil prices are over 80 dollars, and it seems that the petroleum industry will earn money even if it would be far lower than that. We not only came through the oil price fall. We got out of it” said Siv Jensen when she held the finals in the parliament on Monday morning.

Jensen stated and mentioned a large number of points on major challenges that Norway is facing and assured to take prioritise measures that enable to meet these challenges in the 2019 state budget. The foundation for our welfare is an economy that is growing, and stressed that growth in the Norwegian economy is now solid.

– It is already stronger than the historical trend. Most people will get more purchasing power. More are coming to work. Then the demand for goods and services increases. Norwegian companies have become more competitive, and are also enjoying the arrows pointing up elsewhere in the world. On top of this, petroleum investments are rising, which seems to increase again – for the first time in four years, Jensen said.

The government proposes to increase the use of oil revenues by NOK 4.5 billion from this year, an increase which, according to the government, is in line with the growth in the mainland economy. Thus, the impact on economic activity is also neutral.

“And the use of oil revenues is as it should be when growth in the economy is solid and self-sustaining,” said Jensen.

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