Norway's Bergo on the economic outlook

In the speech 'Household saving and the economic outlook' given on 3 October Jarle Bergo of Norges Bank said the existence of the Petroleum Fund may be influencing Norwegians' saving behaviour.

When oil is extracted and sold, natural assets are transformed into financial wealth, deputy governor Jarle Bergo said in the speech.

"As long as this financial wealth continues to grow, it will appear as government saving in the accounts, while it is in reality a conversion of wealth. In this sense, we are

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