October 7, 2019 / 6:07 AM / 9 days ago

Norway to spend less cash from wealth fund in 2020

OSLO, Oct 7 (Reuters) - Norway plans to spend less money next year from its $1.1 trillion sovereign wealth fund, the world’s largest, the centre-right majority government said on Monday.

Under its 2020 draft budget, cash spending from the fund will decline to 243.6 billion Norwegian crowns ($26.79 billion) next year from 246.2 billion crowns in 2019, the Finance Ministry said. ($1 = 9.0934 Norwegian crowns) (Reporting by Terje Solsvik, editing by Victoria Klesty)

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