The stimulus package amounts to 20 billion kroner (2.88 billion U.S. dollars). It consists of 16.75 billion kroner (2.41 billion dollars) in an increase in budget expenditures and 3.25 billion kroner (467 million dollars) in tax relief for the business sector, the Norwegian government said in a statement posted on its website.
"This is the most ambitious fiscal stimulus proposed in more than 30 years to boost growth and employment," Finance Minister Kristin Halvorsen and said in the statement.
The measures are aimed at addressing the emerging problems in the Norwegian labor market. It is vital to ensure that the measures we implement are targeted, temporary and will contribute to sustainable growth, Kristin Halvorsen added.
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