Government Pension Fund–Global

…Government Petroleum Fund (renamed the Government Pension Fund Global in 2006), into which budget surpluses were deposited for investment overseas. Norway reversed its negative balance of payments, and the growth of its gross national product (GNP)—which had slowed during the 1980s—accelerated. By the late 1990s Norway’s per capita GNP was…

…reinvesting those profits in the Government Pension Fund (originally the Government Petroleum Fund). Even as much of the rest of the world struggled in the wake of the international financial crisis that began in 2008, Norway continued to prosper, with its economy continuing to grow steadily and unemployment remaining low…