| The Norwegian government announced last week that its citizens are now nominal millionaires, thanks to the size of the country’s sovereign-wealth fund portfolio. The fund is worth about 5 trillion Norwegian krone; the country’s population is about 5 million.
Actually, the idea that Norwegians are now part of the world’s wealthier 1 percent is more media hype than reality. Norway’s debt is 25 percent of its gross domestic product, and the government can only spend about 4 percent of the fund’s yearly income. Still, the fund highlights what a nation can do with its excess cash...............................................Full Article: Source
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