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Sovereign Wealth Funds Briefing - Categorized | Investment, Reserve Currencies

Norway central bank head urges premier not to overspend oil cash

Posted on 31 October 2013

Norway’s central bank Governor Oeystein Olsen urged lawmakers not to spend more than 3 percent of the nation’s oil fund as the new government reworks next year’s budget.
Norway, which uses oil money to plug its budget deficits, caps the spending at 4 percent of its $810 billion sovereign wealth fund to avoid overheating the economy. Olsen already in 2012 said 4 percent was too much, as the rule he helped design last decade is being undermined by the surging size of the fund……………………………..Full Article: Source


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