Norway raises oil money spending in 2013 budget

OSLO, Oct 8 (Reuters) - Norway plans to spend more of its oil revenue in the election year 2013 than planned for 2012 and hiked forecasts for this year's growth, its government said in a budget on Monday.

The structural deficit before oil revenue is seen at 125.3 billion Norwegian crowns ($22.06 billion) next year, above the downwardly revised 116.2 billion seen for 2012.

In May, the government saw this year's deficit at 122.2 million crowns.

It raised its forecast for 2012 mainland GDP growth to 3.7 percent from the May forecast for 2.7 percent, and said it saw next year's growth at 2.9 percent.

Norway, the world's eighth largest oil exporters, runs big surpluses when petroleum revenue is counted but has a structural deficit without the oil money. ($1 = 5.6655 Norwegian crowns)

(Reporting by Joachim Dagenborg, writing by Victoria Klesty)

(([e-mail])([phone])(Reuters Messaging: [e-mail]))

Keywords: NORWAY BUDGET/