Norway boosts withdrawals from world's biggest wealth fund
The government withdrew 7.4 billion kroner, up from 6.7 billion kroner in each of the first two months of the year, bringing the year-to-date withdrawals to 20.8 billion kroner. At the faster pace, full-year withdrawals would top an estimate of 80 billion kroner given in February by the central bank governor. The Norwegian government is exploiting the fund to meet budget needs amid plunging oil prices. Still, officials overseeing Norway’s fund say the investor won’t need to sell assets to meet growing fiscal needs.