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Sovereign Wealth Funds Briefing - Categorized | Trends

Norway PM plans lower oil money use

Posted on 26 August 2013

Prime Minister Jens Stoltenberg plans to use less oil money in 2014, NOK 50 billion below the maximum four per cent rule. “As the figures now stand, we’ll be preparing to use barely three per cent of the Government Pension Fund next year,” he told business daily Dagens Næringsliv.
“Next year’s oil spending will be on par with the lowest ever recorded.” The Prime Minister added he believes spending the highest possible amount next year could create problems for the Norwegian economy “at a time we’re concerned about high cost growth, the exchange rate, and the rate of interest.”……………………………………….Full Article: Source


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