Skip to content
Subscriber Only

Norway Makes First Deposit to Huge Wealth Fund Since 2016

  • Norway has withdrawn more than $18 billion since early 2016
  • Wealth fund has weathered withdrawals with steady cash flow
Updated on

Norway made the first deposit to its $1 trillion wealth fund in almost three years as climbing oil prices and a recovering economy again swell the coffers of western Europe’s biggest crude producer.

The Finance Ministry put 1.9 billion kroner ($230 million) into the fund in June, cutting withdrawals this year to 7.9 billion kroner, according to the Norwegian Government Agency for Financial Management. In its most recent budget released in May, the government had anticipated it would take out 21 billion kroner this year.