Report on long term perspectives for the Government Pension Fund Global submitted by committee

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Today, a committee that has been reviewing long term perspectives for the Government Pension Fund Global (GPFG) submitted its report, NOU 2022: 12 The Fund in a changing world, to the Ministry of Finance. The committee was chaired by Ulf Sverdrup, Director at Norwegian Institute of International Affairs (NUPI).

The committee was requested to assess how international developments may affect the management and governance of the Fund. The Fund is invested across a wide range of markets and companies internationally, and international developments are therefore of great importance for the Fund development.

The Fund is a significant source of funding for Norwegian public welfare. About one fifth of the fiscal budget is financed by transfers from the GPFG. Ensuring sound and responsible management of the Fund is therefore crucial.

“Going forwards, we cannot expect the Fund to continue increasing in value in the way we have grown used to. We must be prepared for handling new challenges and risks that may face us. The analysis, assessments and recommendations from the committee are useful inputs to the Ministry’s continual work on the Fund management“, says Minister of Finance Trygve Slagsvold Vedum (Centre Party).  

The report will be circulated for public consultation with a deadline of 5. January 2023. The Ministry will thereafter address the report and consultation comments in the annual white paper on the Fund.

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