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Norway dips in to wealth fund for relief during pandemic

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The level of government withdrawals from the fund forced it to start liquidating assets last year, but the fund has seen near-record returns as markets rebound

Norwegian Prime Minister Erna Solberg. Picture: REUTERS/INTS KALNINS

“Fundamentally, it shows that the government sees a bigger need for fiscal support throughout this year,” Handelsbanken analyst Marius Gonsholt Hov said in a client note. The measures announced on Tuesday “add to an already expansionary budget”, it said. “This will pave the way for new growth, a green shift, and activity and employment throughout the country.”

 

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