Middle East Economic Survey
BUDGETS AND REVENUES
Value Of Norways Oil Fund Climbs 8.3% In First Quarter
The value of Norways oil fund (the Government Petroleum Fund) climbed 8.3% to 915bn Norwegian crowns (NOK $133.6bn) at the end of the first quarter of this year from NOK845bn at the end of 2003, according to the countrys central bank, which controls the fund. The fund, which was set up in 1996 to invest in foreign stocks and bonds in order to save money for future...