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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORWAY
Norway's governing centre-left Labour Party has confirmed that is has reached and agreement with the leftist Socialist Left Party (SV) to gain its approval for a revised 2023 budget. Public broadcaster NRK reportsthat the minority Labour gov't, propped up by the agrarian regionalist Centre Party, has pledged an additional NOK2bn (USD190mn) per annum towards child benefit at the behest of the SV.
- The agreement also sees an additional NOK300mn (USD27.7mn) set aside for climate change related spending, a 10% increase in the social assistance rate, an NOK138mn (USD12.7mn) increase in public transport expenditure in 2023, among other measures.
- Gaining the support of SV was crucial to ensure the budget passes in the Norwegian Parliament (Storting). The Labour-Centre gov't holds just 76 seats in the 169-member legislature. But with the SV's additional 13 seats, this lifts the total to 89, above the 85 seat majority threshold.
Chart 1. Norwegian Storting (Changes at 2021 Election)
Source: stortingnet.no, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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