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World’s Largest Wealth Fund To Reveal Amount It Will Withdraw This Year
Onlookers are about to find out how much the world’s largest wealth fund is going to withdraw this year.
Today the Norwegian government will unveil its revised budget, which contains new estimates on how much of the country’s $854B piggy bank will be gobbled up over the course of the year, Bloomberg reports. And it could be a lot—the country is spending a record amount of its oil cash to protect against a recession and pay for a huge wave of immigrants.
The fund was established in the '90s to ensure economic security for future generations of Norwegians, and it was first tapped into only this past October. [Bloomberg]
