Economy Country October 22, 2024

Norway's Sovereign Wealth Fund Reports Profits

The Norwegian sovereign wealth fund announced a profit of 835 billion Norwegian kroner (76.3 billion USD) for the third quarter, reflecting strong financial performance.


Norway's Sovereign Wealth Fund Reports Profits

The Norwegian giant sovereign fund announced on Tuesday a profit of 835 billion Norwegian kroner ($76.3 billion) in the third quarter.

This fund, known as the largest sovereign fund in the world, is based on Norwegian oil revenues and invested in various assets.

Quote: "We also see growth in the value of stocks and obligations, which positively reflects on the fund's result," - stated the representative of the fund.

At the same time, it is worth noting that the fund is addressing the complexities related to the spread of new variants of COVID-19 and market volatility.

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