wealth fund for public expenses next year, higher than this year’s spending from the world’s largest such fund.

The government unveiled its budget bill for 2027, which includes a proposal to withdraw and spend 608.4 billion Norwegian crowns, or $63.7 billion, from Government Pension Fund Global.

Under the proposal, spending from the sovereign wealth fund would increase by 4.9 billion crowns, or $513 million, compared to 2026, measured in fixed 2027 prices, the government said. The planned spending for 2027 accounts for 2.7% of the value of the fund, equal to 2026.

Key economic assumptions in the 2027 budget draft include GDP growth of 1.7% next year, up from 1.1% in 2026 and returning to the 2025 level.

Norway’s Government Pension Fund Global (GPFG), which is commonly referred to as ‘Norway’s oil fund’ because it was created with oil and gas revenues, is a shareholder in many large companies in the world, with more than half of the value of its equity investments in the U.S. market. The Norwegian fund was created in the 1990s, and today it holds, on average, 1.5% of all listed companies in the world.

The fund posted a record-high profit of $185 billion for the first half of 2026, as Asian technology stocks boosted its returns and profit on the portfolio.

For the first half of the year, the fund posted a record profit on the portfolio before foreign exchange adjustments at 1.753 billion Norwegian crowns, or $185 billion, the fund’s manager, Norges Bank Investment Management (NBIM), said in August. This is more than double compared to the profit for the first half of last year, amid a rally in technology stocks.

Equity investments accounted for 72.1% of the fund’s val.

Source: Oilprice