February 16, 2017 / 2:41 PM / 6 months ago

Norway recommends lowering fiscal spending from wealth fund to 3 pct

OSLO, Feb 16 (Reuters) - Norway's minority rightwing government will recommend cutting the amount of money it can spend from Norway's $900-billion sovereign wealth fund to 3 percent of the fund's value per year from 4 percent today, it said on Thursday.

The coalition will also recommend that the share of equity in the fund's portfolio, which is set at about 60 percent, can increase to up to 70 percent.

The fund can only invest in stocks, bonds and real estate abroad. (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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