Norway plans record spending from wealth fund

  • 5/11/2021
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OSLO, May 11 (Reuters) - Norway should spend a record amount of cash from its $1.3 trillion sovereign wealth fund this year as it continues to battle the pandemic’s economic impact, the centre-right minority coalition government told parliament on Tuesday. Conservative Finance Minister Jan Tore Sanner now proposes withdrawing 402.6 billion Norwegian crowns ($48.66 billion) from the wealth fund in 2021, up from 331.1 billion crowns seen last November. $1 = 8.2732 Norwegian crowns Reporting by Terje Solsvik, editing by Victoria Klesty Our Standards: The Thomson Reuters Trust Principles.

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