The investment strategy implemented by Norway to handle its oil and gas revenues avoids an appreciation of the currency, thereby preserving the competitiveness of non-oil sectors, Norges Bank governor Øystein Olsen said in a speech at the Peterson Institute in Washington on March 22.
“We have managed to transform oil and gas resources into real and financial assets,” Olsen said. “Luck has been supplemented with what I dare claim is a sensible handling of the resources.”
The revenues derived
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