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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

Norway Set to Use Record Oil Fund Money In 2017 Budget

Posted on 05 October 2016

Norway’s government is expected to make a rare decision and use just over 3 percent from its giant US$899 billion oil fund - the world’s largest – in next year’s budget, local media report, citing estimates by the statistics office and investment banks.
The government has rarely used more than 3 percent of the Government Pension Fund Global, also known as Norway’s oil fund. The Norwegian fiscal policy sticks to a fundamental rule, the so-called budgetary rule, under which the government may spend no more than the expected real return of the fund, which is estimated at 4 percent per year………………………………………Full Article: Source


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