Planes are grounded due to the Covid-19 pandemic, at Vaernes Airport, in Trondheim, Norway, on April 7, 2020. The wealthy Nordic country, the largest producer of oil in Western Europe, is suffering doubly from the economic impact of the health crisis and plunge in oil prices– EPA pic, May 12, 2020.
NORWAY is set to draw down a record amount of cash from its sovereign wealth fund, the largest in the world, to support its economy, according to a revised budget draft published today. In 2020, the centre-right government plans to use 420 billion Norwegian kroner from the fund to support an economy badly hit by the coronavirus pandemic and plunging oil prices.
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Source: Financial Digest (financialdigest.net)
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