Mr. Svein Gjedrem:

No. We use the expected long-term real return. So whatever happens, we spend. As a rule, it fluctuates at around 3%. If there is a need for spending more to stabilise the domestic economy, we can spend more than 3%, and less than 3% in good times. The fiscal budget is still used for stabilisation purposes, but over time we spend the real return. We are not looking at the return for each year when decisions are taken on how much to spend. It is the long-term expected return. We do not spend a heck of a lot of money in good years and then very little in bad years for the fund; it is stabilised over time. The numbers were not that far away from being exact. The deficit and the transfer are approximately 10% of domestic GDP and these days it finances 20% of fiscal expenditure. One in five krone that the Norwegian Government spends comes from the oil fund, but it is sustainable because we spend only the expected return from the fund.