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Norway to spend 3.0 pct from its wealth fund in 2017-budget document
October 6, 2016 / 7:16 AM / a year ago

Norway to spend 3.0 pct from its wealth fund in 2017-budget document

OSLO, Oct 6 (Reuters) - Norway’s rightwing government will spend 3.0 percent of the value of its sovereign wealth fund, the world’s largest, in its 2017 budget, a budget document obtained by Reuters showed on Thursday.

In real terms, the government will raise its spending from the fund to 225.6 billion crowns ($28.08 billion) in 2017, up from the 205.6 billion crowns it proposed to spend in the revised budget in May for the current year.

$1 = 8.0352 Norwegian crowns Reporting by Oslo newsroom

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