The economy

The Government’s goals for its economic policy are full employment, sustainable development, a more just system of distribution and a strengthening of the welfare system. The different elements of the policy shall together ensure that these goals are achieved.

In the Government, it is the Minister of Finance’s responsibility to draw up and coordinate economic policy. The Ministry of Finance acts as the secretariat for the Minister of Finance. It is the political authorities - the Government and the Storting – that make the decisions. On this page you will find general information and documents relating to the economy.

You can explore this topic in more detail by using the menu on the right.

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Systemically important credit institutions and investment firms

[News story, Ministry of Finance, 08.05.2013]

On 22 March 2013, the Ministry of Finance put forward a legislative proposal on new capital requirements for credit institutions and investment firms to implement expected new EEA rules corresponding to the EU CRR/CRD IV framework. According to the proposal, the Ministry may in a regulation determine criteria for assessing the systemic importance of credit institutions and investment firms, and establish special rules and special capital adequacy requirements for such institutions and firms.

Tobacco producers excluded from the Government Pension Fund Global

[News story, Ministry of Finance, 08.05.2013]

The Ministry of Finance has excluded the American company Schweitzer-Mauduit International Inc. and the Chinese company Huabao International Holdings Limited from the investment universe of the Norwegian Government Pension Fund Global (GPFG) on account of their tobacco production. The decision is based on a recommendation from the Council on Ethics for the Fund.

Measures against begging

[Press release, Ministry of Justice and Public Security, 07.05.2013]

The Government proposes a comprehensive plan to limit begging.

Revised National Budget 2013

[Press release, Ministry of Finance, 07.05.2013]

Driven by demand from domestic sectors, including the petroleum sector, growth in the Mainland Norway economy is strong, in line with the average for the past 40 years. Nearly 75,000 more people are employed now than at the peak before the financial crises. Unemployment is significantly below the average of the past 25 years.

The Norwegian Government announces measures to stimulate the mainland economy

[Press release, Ministry of Finance, 05.05.2013]

The Norwegian Government proposes tax changes from 2014 to strengthen competitiveness and profitability, and stimulate investments in the mainland economy. The corporate tax rate will be lowered, the tax credit scheme for R&D will be increased and a special first year depreciation for machinery will be introduced. At the same time the Government proposes an interest deduction limitation for interest expenses paid to related parties.

Reduced uplift in the petroleum tax system

[Press release, Ministry of Finance, 05.05.2013]

Today the Government proposes to reduce the uplift in the petroleum tax system from 7.5 per cent to 5.5 per cent. The overall uplift is thereby reduced from 30 per cent to 22 per cent. The proposal will lead to more efficient use of resources and over time lead to increased tax revenues.

A growth package for businesses

[Press release, The Office of the Prime Minister, 05.05.2013]

The Norwegian Government today announces a growth package for mainland businesses. At the same time the Government will improve the petroleum tax system. The proposals aim to reduce the uneven development of different sectors of the Norwegian economy. – The proposals will ease the pressure for industries facing international competition and secure jobs, says Prime Minister Jens Stoltenberg.

Agreement Norway - USA

[Article, Ministry of Finance, 29.04.2013]

Agreement Between the Government of the Kingdom of Norway and the Government of the United States of America to Improve International Tax Compliance and to Implement FATCA.

Agreement Norway - Botswana

[Article, Ministry of Finance, 23.04.2013]

Good long-term management of the Government Pension Fund

[Press release, Ministry of Finance, 12.04.2013]

The Government is today submitting its report to the Storting on the management of the Government Pension Fund in 2012. – The Fund makes a major contribution to safeguarding welfare, whilst at the same time enabling us to save for future generations, says the Minister of Finance, Sigbjørn Johnsen.