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Norways oil fund grows

This year Norwegian Finance Minister Karl Eirik Schøtt-Pedersen will set aside nearly USD 17.6 billion (NOK 160 billion) in surplus oil proceeds - that's about USD 3,850 (NOK 35,000) per Norwegian, and 10 percent more than he had anticipated just two months ago. The extra money is the result of this year's high global oil prices. All state oil income not needed to cover annual state expenses must be deposited in a petroleum fund for future generations.