Norway shifts left after elections: What does it mean for the world's largest state fund? | DW News

Norway’s center-left opposition looked set to win most seats within the country’s parliamentary election on Monday, with conservative Pm Erna Solberg conceding defeat and also the leader from the largest opposition party declaring victory after preliminary outcome was announced. The leftward transfer of Norway’s politics would also put Norwegian more about componen politically with Scandinavian neighbors Denmark, Norway and Finland.

Norwegian is definitely an affluent, oil-wealthy country that isn’t an EU member condition. Her world’s largest sovereign wealth fund, thanks in no small part towards the financial windfalls introduced about through the country’s significant non-renewable fuels sector because the 1960s. GDP in the sector reaches 14% and 40% of exports are gas and oil. Oil makes up about 160,000 jobs.

The problems of global warming and economic inequality dominated campaigning, using the outcome set to help oil activities in Western Europe’s largest producer. In August, once the Intergovernmental Panel on Global Warming report dropped declaring a “code red for humanity,” the election campaign pivoted to matters of global warming, favoring parties which had place the issue the main thing on their agenda. Stoere’s Labor Party uses a gradual, instead of immediate, decrease in the Norwegian economy’s reliance upon gas and oil sector, unlike parties further left that could form a part of a ruling coalition.

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