GAPP Principle 3

Where the SWF’s activities have significant direct domestic macroeconomic implications, those activities should be closely coordinated with the domestic fiscal and monetary authorities, so as to ensure consistency with the overall macroeconomic policies.

Status: Implemented

There is currently neither inflow to nor withdrawals from the GPFN. The return on portfolio investments net of costs is added to the Fund capital. According to the Government Pension Fund Act the capital of the Fund may only be used for transfers to the central government budget pursuant to a resolution by the Norwegian Parliament.

Source: Government Pension Fund Act.