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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

‘Norway is doing well’ its Finance Minister said

Posted on 12 May 2010

From Swedishwire.com: Norway on Tuesday said it was returning to increased fiscal discipline after having heavily dipped into its oil revenues in order to emerge almost unscathed from the global economic crisis. Nearly all of Norway’s oil revenues are usually poured into its Government Pension Fund, no more than 4.0 percent of which can be used to supplement the state budget in normal times.
In its revised national budget for 2010, the Norwegian government said it was limiting to 131.5 billion kroner (16.7 billion euros, 21.3 billion dollars) its use of oil revenues, 17 billion kroner less than in the initial budget presented in October……………………………………….Full Article: Source


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