Norway’s government boosted the amount of oil money it will spend this year, dipping deeper into its sovereign wealth fund to ward off a recession. The government in its revised budget will use 205.6 billion kroner ($25 billion) of its oil wealth versus the 195.2 billion kroner it estimated in October, according to budget documents obtained by Bloomberg ahead of its release at 10:45 a.m. in Oslo. The spending will have a stimulus effect of 1.1 percentage point this year, up from 0.7 percentage point in its initial budget. Norway plans to withdraw 84.2 billion kroner from its $860 billion wealth fund to cover the outlays, according to a person who saw a broader version of the budget. That’s up from an October estimate of just 4.9 billion kroner, made before oil plunged at the end of last year, and higher than an 80 billion kroner estimate made by […]