18.11.2016 - Norway should tighten fiscal spending rule on its wealth fund-IMF
Norway should limit what it spends from its $860 billion wealth fund to avoid creating economic imbalances, the International Monetary Fund said on Thursday, after the fund grew faster than the economy in the last 20 years. Under the fiscal spending rule, governments can spend in their budgets an average 4 percent of the wealth fund per year - the estimated long-term return of the fund. The sovereign wealth fund, the world's largest, invests the Norwegian state's revenues from offshore oil and gas production It invests up to 60 percent in equities, 35 percent in fixed income and 5 percent in real estate. It cannot invest in Norway..........................................Full Article: Source
Print