April 28, 2020 / 2:52 PM / a month ago

UPDATE 1-Norway eyes economic roadmap from crisis in late May or early June

(Recasts with quotes, background)

OSLO, April 28 (Reuters) - Norway’s government will present a plan in late May or early June for how to recover from the economic crisis caused by the novel coronavirus outbreak, Finance Minister Jan Tore Sanner said on Tuesday.

The government last month announced emergency shutdowns of many public and private institutions, including schools and kindergartens, sending the economy into a tailspin and triggering hundreds of thousands of layoffs.

“The government plans to present a new plan in late May or early June. It will be about the road ahead, the road out of the crisis,” Sanner told a news conference.

“We don’t know how deep the downturn will be or how long it will last, it depends on how long we must maintain strict measures to contain the virus, in Norway and internationally,” he added.

By comparison, the government’s 2020 budget revision, which is scheduled for May 12, will contain fewer adjustments, Sanner said.

“The revised budget may be some of the most normal we do in terms of fiscal policy this spring,” he added. (Reporting by Terje Solsvik, editing by Victoria Klesty)

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