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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Norway’s new government to spend more of nation’s oil wealth

Posted on 11 November 2013

Norway’s new government presented a revised budget that will raise spending of the nation’s oil wealth to cover tax cuts and boost infrastructure and education. The government will use 2.9 percent, or 139 billion kroner ($23 billion), of its sovereign wealth fund to plug deficits in 2014. That’s 3.9 billion kroner more than the ousted Labor-led coalition proposed last month.
The use of oil money will amount to 5.7 percent of trend mainland gross domestic product, up from an estimated 5.2 percent this year………………………………………..Full Article: Source


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