Former NATO Secretary General Jens Stoltenberg is set to become Norway’s new finance minister. As part of a cabinet reshuffle, he is scheduled to take the oath of office on Tuesday. This information was reported by the British news agency Reuters, citing Norwegian local newspaper and broadcaster NRK.
A senior politician from Norway’s Labour Party, Stoltenberg served as the country’s prime minister from 2000–2001 and again from 2005–2013. He led the Western military alliance NATO for a decade, including during former U.S. President Donald Trump’s first term. Stoltenberg stepped down as NATO secretary general last year.
The 65-year-old economist previously served as Norway’s finance minister from 1996–1997. He is regarded as a pragmatic economist in the country.
Norway, an export-driven economy, has a population of 5.5 million. The country may face risks in a potential transatlantic trade war during Donald Trump’s second term as U.S. president. Norway’s key export products include oil, gas, and fish.
On Thursday, Norway’s Centre Party withdrew from the ruling government due to disagreements over the European Union’s energy policy. This political rupture, occurring just eight months before the national elections, has put the center-left Labour Party in a difficult position.
The country is set to hold its national elections in September. Recent surveys indicate a decline in public confidence in the ruling Labour Party. However, during his tenure as NATO secretary general, Stoltenberg was widely popular among Norwegians. His appointment to the government could improve the Labour Party’s standing.
In 2022, Stoltenberg was initially set to become the head of Norway’s central bank. However, then-U.S. President Joe Biden asked him to continue serving as NATO secretary general, leading him to decline the central bank’s offer.