10.05.2016 - Norway's Wealth Fund Faces Bill as Budget to Reveal Withdrawals
Norway’s wealth fund, the world’s biggest, is about to find out just how much the government aims to withdraw this year. On Wednesday, the government will unveil a revised budget with new estimates on how much of the country’s $854 billion piggy bank will be used up during the course of 2016. The government is spending a record amount of its oil wealth to protect against a recession and pay for a wave of immigrants. Established in the 1990s to safeguard the financial security of future generations, Norway’s wealth fund had been left untapped until October, when the government first announced it would have to use some of its abundant oil revenue...............................................Full Article: Source
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