Norway Boosts Withdrawals From World's Biggest Wealth Fund
- Monthly withdrawal rises to NOK7.4 billion from NOK6.7 billion
- Fund has said investment income can cover withdrawals
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Norway increased withdrawals from the nation’s wealth fund again in March, running ahead of estimates made by the central bank just two months ago.
The government withdrew 7.4 billion kroner ($898 million), according to monthly data published by Norwegian Government Agency for Financial Management. That’s 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.