| Norway and other oil producers are seen tapping sovereign wealth funds to cover budget shortfalls as cheap crude crimps finances, sparking fears that the flow of money into the world's financial markets will be affected if this trend continues.
Norway will draw on its sovereign wealth fund -- the world's largest -- to cover an expected budget shortfall in fiscal 2016, its finance ministry said Wednesday. The government is seen running a 207.8 billion kroner ($25.3 billion) deficit, not accounting for oil revenue -- a 28 billion kroner increase over fiscal 2015. Oil revenue is expected to fall 6% on the year to 204.1 billion kroner, leaving a 3.7 billion kroner hole to be filled from the sovereign wealth fund...............................................Full Article: Source
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