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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Risks Mount for World’s Biggest Wealth Fund

Posted on 07 October 2016

Even Norway’s politicians are worried they might be taking too much money from their sovereign wealth fund. The government on Thursday revealed plans to withdraw 121 billion kroner ($15 billion) from the $890 billion fund next year as part of an oil-fed spending bonanza that’s filling a budget hole that’s almost 8 percent of gross domestic product.
As recently as 2015, Norway was using oil revenue to replenish its wealth fund. Now, it’s taking out more than half its estimated income from bonds, dividends and real estate to make up for lost oil revenue. Though the fund was created to help Norway cope with tougher times, the withdrawals have started much earlier than expected……………………………………Full Article: Source


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