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

Oil-rich Norway to tighten spending

Posted on 06 October 2010

From AP: Norway on Tuesday unveiled next year’s budget plans aimed at curbing expenditure after the oil-rich country recovers from an economic downturn with a slightly upturned outlook for 2011.
The Finance Ministry proposed to cut excess spending from oil and gas proceeds to 7.4 billion kroner ($1.2 billion; euro880 million) — from 19 billion kroner this year……………………………………….Full Article: Source

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