Mateusz Morawiecki said earlier that in the face of a sharp increase in Norway's oil revenues, the country should share them. In Oslo, they said in response that the country's economy is nevertheless suffering from the fall of the stock market
Despite the growth of Norway's income from oil exports, the country's economy is suffering from the fall of the stock market, and its citizens from rising electricity and gasoline prices, Norwegian Foreign Ministry Secretary of State Eivind Vad Petersson said, according to Aftenposten.
So he reacted to the call of Polish Prime Minister Mateusz Morawiecki to share the income from oil exports, which, according to him, have risen sharply due to increased prices in the commodity market. “Profits from oil and gas in a small state with 5 million people, which is Norway, will exceed € 100 billion. Write to your young friends in Norway. They have to share this surplus, gigantic profit,— said the prime minister, speaking to Polish youth.
Petersson disputed Morawiecki's calculations and pointed out that excess revenues from oil and gas exports mostly go to the State Pension Fund (Oil Fund). “While oil revenues increased as a result of the war in Ukraine, the volume of the fund fell. Since the new year, the volume of the fund has decreased by about 550 billion Norwegian kroner ($56.1 billion— RBC), partly due to the fall in the stock market,— explained the State Secretary of the Ministry of Foreign Affairs.
He also pointed out that the citizens of Norway were affected by the rise in the price of electricity and gasoline.
Norway has already made a significant contribution to support Ukraine, Petersson recalled, and is going to provide the state even more help.
According to Aftenposten, in 2022 Norway's oil and gas revenues are expected to be NOK 933 billion (about $95.2 billion). The forecast was revised from the fall of 2021 upwards by NOK 656 billion ($66.9 billion), which, according to the publication, amounted to 237%.
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