Amendment to the 2022 Fiscal Budget Proposal:

Key figures in the Amendment to the 2022 Fiscal Budget Proposal

To ensure simultaneous access to information that might be market sensitive, the Ministry of Finance publishes selected key figures prior to the budget launch at 12:00 am.

The economic outlook has not changed substantially since the National Budget 2022, and the Ministry of Finance has not updated its projections for the Norwegian and global economy in the Amendment to the 2022 Fiscal Budget Proposal.

The government maintains the same structural non-oil deficit as presented in the National Budget 2022 on October 12.

Table: Key figures are unchanged since the National Budget 20221

 

2020

2021

2022

Mainland Norway gross domestic
product

-2,5

3,9

3,8

Employment, persons

-1,3

0,8

1,4

Unemployment rate, registered (level)

5,0

3,2

2,4

Structural non-oil fiscal 
deficit, 2022 NOK billion

385,8

406,8

322,4

Fiscal impulse2

3,8

0,6

-2,6

Transfer from the GPFG3

3,6

3,6

2,6

1 Percentage volume change from previous year, unless otherwise stated.

2 Structural non-oil fiscal deficit as a percentage of mainland Norway trend GDP. Change from previous year in percentage points. 

3 Structural non-oil fiscal deficit as a percentage of the capital in the Government Pension Fund Global (GPFG) at the beginning of the year (2022 estimates). 

Sources: Statistics Norway, Norwegian Labour and Welfare Administration and the Ministry of Finance.