March 10, 2014 / 6:27 PM / in 4 years

Norway's 2015 budget to use more wealth fund cash -finance minister

OSLO, March 10 (Reuters) - Norway’s 2015 budget will see increased use of cash from the country’s $850-billion sovereign wealth fund, the world’s largest, Finance Minister Siv Jensen said on Monday.

The government, composed of the centre-right Conservatives and the more right-wing Progress Party, began negotiations on Monday over next year’s budget, the first by the coalition since winning elections in September.

“I believe we are going to see increased use of oil money in next year’s state budget as well,” Siv Jensen, who is from the Progress Party, told public broadcaster NRK. Prime Minister Erna Solberg said earlier that Norway should not dig too deeply into the fund as that might erode gains made in competitiveness. (Reporting by Gwladys Fouche; Editing by Robin Pomeroy)

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