Norway says made first withdrawal from oil fund in January

Reuters News
Posted: Mar 03, 2016 4:08 PM

OSLO (Reuters) - The Norwegian government made its first withdrawal of funds from the country's $826 billion sovereign wealth fund in January, 20 years after the first cash infusion in 1996, financial daily Dagens Naeringsliv reported on Thursday.

The Finance Ministry confirmed in a statement to Reuters it had withdrawn funds but did not to go into detail on the precise amount.

The right-wing government of Prime Minister Erna Solberg of the Conservatives and Finance Minister Siv Jensen of the smaller Progress Party extracted 6.7 billion Norwegian crowns to pay for public spending ($781.26 million), Dagens Naeringsliv said.

(Reporting by Terje Solsvik; Editing by Janet Lawrence)