24.10.2016 - The Norwegian Wealth Fund’s Political Unity is Cracking
The five million people of Norway are currently sitting on a great pile of cash thanks to their sovereign wealth fund, in charge of investing abroad the income generated by the country’s oil and gas sales. Although “publicly-owned,” the fund is an institutional financial investor driven both by a long-term perspective and ethical concerns. Yet, current circumstances are breaking the existing political consensus about the fund. In 2016, the Norwegian government breached for the first time the budgetary rule which states that the government can’t withdraw more than 4% of the fund’s value to its budget.............................................Full Article: Source
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