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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

Norway government to siphon US$26.7bln from Oil Fund

Posted on 15 October 2009

From Globalpensions.com: The Norwegian government plans to spend NOK148.5bn (US$26.7bn) of the Government Pension Fund – Global’s assets to help spur economic growth, the Ministry of Finance said as it unveiled its proposed 2010 budget yesterday.

“The extraordinary escalation in the spending of oil revenues to deal with the financial crisis and the global recession has brought spending of petroleum revenues to a high level,” the Ministry wrote in the national budget……………………Full Article: Source

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