04.04.2013 - Norway Oil Fund CEO: 4pct annual yield is uncertain
The expected annual yield of 4% for Norway's $700 billion oil fund is uncertain in the long-term, the fund's Chief Executive Yngve Slyngstad told a parliamentary committee Wednesday. "The estimated 4% real yield is uncertain, also for long time horizons," Mr. Slyngstad told the Standing Committee on Finance and Economic Affairs, which is holding hearings on the funding needs of the Norwegian welfare state as the population grows older. Mr. Slyngstad was invited to comment on a government white paper outlining the long-term financing of the generous Nordic welfare state. Like many European countries, Norway has an aging population and welfare spending is set to grow faster than tax revenues...............................................Full Article: Source
Print