Financial Times FT.com

Norway to dip into $332bn oil fund

By David Ibison in Oslo

Published: December 15 2008 02:00 | Last updated: December 15 2008 02:00

Norway is poised to dip more deeply into its $332bn sovereign wealth fund to finance a new fiscal spending package.

The oil-rich Norwegians will use the fund, the world's second largest after Abu Dhabi, to offset a rapid slowdown in economic growth next year.

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