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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

‘We are all millionaires now’: Norway’s astounding fiscal reserve

Posted on 07 March 2014

The financial position of the Norwegian government is astonishingly strong. While most other national governments in Europe and North America, especially in recent years, have been posting sizable annual budget deficits and accumulating additional debt, Norwegians have seen their government post sizable annual budget surpluses and add to a rapidly growing fiscal reserve - popularly known as the oil fund - that now has a market value (almost $850 billion) more than 1.5 times larger than Norway’s GDP!
“We are all millionaires now,” declared a Norwegian acquaintance, noting that the market value of the oil fund has risen beyond five trillion krone - for the five million Norwegians………………………………………..Full Article: Source


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