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Falling prices: Norway’s oil wealth expenditure in 2015 to reach record 6.4%

OSLO: The fall in oil prices from record high levels above USD 100 a barrel to just around USD 60 has fueled fears of economic contraction, higher unemployment and lower wage growth. Norway’s state revenue and fiscal policy has been largely based on the use of petroleum revenues. Oil wealth expenditure in 2015 will reach a record 6.4 percent of ... Read More »