Norway debates fiscal rule as oil fund reaches 22 trillion NOK

Debate is intensifying in Norway regarding the fiscal rule, which governs how much money from the Government Pension Fund Global can be used in the national economy. The fund, managed by Nicolai Tangen, has grown to approximately 22 trillion NOK, doubling in value over the last six years.

Critics argue that the current rule, which typically allows for spending 3 percent of the fund, has become outdated due to the fund's massive growth. Because the fund is expanding much faster than the broader Norwegian economy, the actual amount of money being injected into the economy continues to rise even while adhering to the percentage limit.

Ine Eriksen Søreide, leader of the Conservative Party (Høyre), has called for a tightening of the rule to prevent economic overheating.