Money and FinanceBusiness - Money and Finance The buying power for most Norwegians will increase by 3-4 per cent this year, despite more expensive food, electricity, petrol and air fares, according to Statistics Norway (SSB).
Friday, 04 February 2011 07:32
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Norway's Minister for International Development, Erik Solheim, has promised political and financial assistance to Norwegian firms that want to compete with China in Africa.
The Executive Board of the Norwegian Central Bank (Norges Bank) decided Wednesday to keep the key policy rate unchanged at 2 per cent.
Optimism among Norwegians with regard to their economy is again near the top, according to Finance Norway (Finansnæringens Fellesorganisasjon-FNO). (Photo: Norway's Central Bank)
Norway has been reimbursed NOK 24 million over the past three years, following exposure of corruption and fraud abroad with Norwegian funds allocated for foreign aid projetcs.
The Norwegian economy is still in a slump, but appears to have bottomed out, according to Statistics Norway (SSB). Greater domestic demand is expected to result in a new boom in two years.
Altogether 103 nations around the world have received a total of NOK 27 billion in aid from Norway in 2010. This is equivalent to 1.09 per cent of Norway's Gross National Product (GNP).
The Government has allocated an extra NOK one billion to the municipalities on this year's national budget. Municipal Minister Signe Navarsete hopes the money will be used to improve the care for the elderly.
Norway's Central Bank (Norges Bank) (photo), which manages the Norwegian Government Pension Fund Global, has agreed to buy a 150-year lease on a 25 percent stake in The Crown Estate’s Regent Street properties in London.
