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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Norway targets ‘12 deficit below 4pct of oil revenue

Posted on 18 February 2011

From Dow Jones: Norwegian Finance Minister Sigbjorn Johnsen is aiming to bring the budget deficit below 4% of oil revenues next year as he seeks to reduce government spending to within state guidelines and ease pressure on the central bank to raise interest rates. According to a fiscal rule adopted in 2001, the Norwegian government can over time spend up to 4% of the balance of the Global Pension Fund, where the state’s oil revenues are held.
That amount should correspond to the fund’s expected long-term real return……………………………………….Full Article: Source


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