The Norwegian government on Wednesday proposed to raise the spending from the country’s oil fund, the world’s largest sovereign wealth fund, in next year’s budget, according to the draft budget of the Labor party, which won a second term in office at the general elections last month. The Labor government of Jonas Gahr Støre will need support from its junior partners in the coalition to pass the bill in Parliament. The 2026 budget proposes to use $57.4 billion (579 billion Norwegian crowns) from the Government…
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