Norway Plans to Tap $63.7 Billion From Its Oil Fund in 2027

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Norway’s government has proposed withdrawing 608.4 billion kroner, about $63.7 billion, from its sovereign wealth fund to finance public spending in 2027. The proposed withdrawal is 4.9 billion kroner higher than 2026 spending in fixed 2027 prices.

wealth fund for public expenses next year, higher than this year’s spending from the world’s largest such fund.   The government unveiled its budget bill for 2027, which includes a proposal to withdraw and spend 608.4 billion Norwegian crowns, or $63.7 billion, from Government Pension Fund Global.   Under the proposal, spending from the sovereign wealth fund would increase by 4.9 billion crowns, or $513 million, compared to 2026, measured in fixed 2027 prices, the government said. The planned spending for 2027 accounts…