Norway have lost 525 billion on the stock market crash

Stock ExchangeThe day's numbers are shown on a screen above the floor of the New York Stock Exchange (NYSE) shortly before the closing bell in New York January 4, 2016. U.S. stocks tumbled on Monday, putting the Dow on track for its worst start to a year since 1932 after weak Chinese economic data fanned fears of a global slowdown. REUTERS/Lucas Jackson TPX IMAGES OF THE DAY
The Stock market plunge in in 2016 has so far cut the value of the oil fund with NOK 525 billion.
, According to the Norges Bank Investment Management’s own estimation Thursday morning, the value of the Petroleum Fund is  for the moment NOK 6.964 billion, the web paper E24 writes.
Communications Director Helena Östman in Norges Bank Investment Management, which manages the oil fund, said in an email to the newspaper that the counter was at its peak in the afternoon on December 30, when the value was at NOK 7489 billion.
Although the fund is about long-term savings of the Norwegian oil wealth, the fall also brings some short-term effects. For every one hundred billion being shaved away from the fund’s total value, the upper limit to the sum finance minister Siv Jensen will have available from the oil revenues  shrinks by four billion NOK.
Source: NTB scanpix/ Norway Today

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