Norway Central Bank Chief Warns on Oil Wealth as Coffers Raided

Updated on
  • Use of fund in budget could rise to 80 billion kroner: Olsen
  • Says bank still has room to maneuver on interest rates

Oeystein Olsen.

Photographer: Fredrik Bjerknes/Bloomberg

Norway’s central bank governor stepped up his warning on excessive use of the nation’s oil income as he predicted the government may need to withdraw almost $10 billion from its massive wealth fund this year.

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