Norges Bank

Annual Address - Chart 14

The accumulation of capital in the Petroleum Fund depends not only on the oil price, but also on the fiscal policy conducted over the next few years. With an oil price of NOK 90 per barrel, and a further deterioration in government finances corresponding to half a per cent of GDP each year for the next ten years, the Petroleum Fund will be depleted in 18 years.

Published 15 December 2004 10:58