Norway's government has begun discussions on next year’s state budget amidst unprecedented uncertainty.

Prime Minister Jonas Gahr Støre described the current geopolitical climate as the most serious since World War II, emphasizing the need for strong economic management.

Defense and preparedness are top priorities, with significant funds allocated to support Ukraine.

Finance Minister Jens Stoltenberg warned of the challenges posed by rising costs and a potential global trade war, which could impact Norway’s economy.

Despite these hurdles, the government projects economic growth of 2% and increased purchasing power for citizens in 2025. However, Stoltenberg acknowledged that not all demands can be met, leaving some disappointed.