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Sovereign Wealth Funds Briefing - Categorized | Market

Scandinavia’s richest economy stumbles as euro area rebounds

Posted on 23 August 2013

Norway, western Europe’s biggest oil and gas producer and home to a $760 billion wealth fund, is struggling to spur demand just as the rest of Europe surfaces from half a decade of economic pain. According to DNB ASA (DNB), the country’s biggest bank, Norway will be the only European nation of the 15 it tracks whose economic growth won’t accelerate next year.
Signs of an economic slowdown come as the Labor-led government of Prime Minister Jens Stoltenberg trails in the polls against an opposition that’s promised tax cuts. Both sides have made pledges that draw on the nation’s sovereign wealth fund, the world’s biggest. Norwegians vote on Sept. 9………………………………………..Full Article: Source


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