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Sovereign Wealth Funds Briefing - Categorized | Financials

Norway oil fund splurge no central bank handcuff, Johnsen says

Posted on 08 May 2013

Norway’s most expansionary budget since the height of the global financial crisis in 2009 won’t put any pressure on the central bank to tighten monetary policy, Finance Minister Sigbjoern Johnsen said.
Western Europe’s largest crude exporter will use 3.3 percent of its $740 billion oil fund to plug deficits this year, representing a 19 percent increase from 2012, the Finance Ministry said yesterday. That will deliver the biggest fiscal boost to Europe’s second-richest economy per capita in four years, it said………………………………………..Full Article: Source


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