Subordinate agencies

Published under: Stoltenberg's 2nd Government

Publisher Ministry of Finance

The Ministry of Finance is responsible for a number of subordinate bodies: the Norwegian Tax Administration, Norwegian Customs, Statistics Norway, Finanstilsynet (the Financial Supervisory Authority of Norway), the Norwegian Government Agency for Financial Management (DFØ) and Folketrygdfondet. These have about 10,000 employees in total.

The Ministry of Finance makes annual budget appropriations for these subordinate bodies in line with the decisions of the Storting. In practice, the said bodies have considerable freedom of action on technical issues, but the Ministry serves as an administrative appeals body for some decisions.

The Ministry of Finance also has certain affiliated bodies. The role of the Ministry of Finance vis-à-vis the affiliated bodies varies, but a joint characteristic is that the Ministry of Finance draws up guidelines for such bodies, based on the legislation enacted by the Storting.

Norges Bank executes monetary and foreign exchange policy pursuant to guidelines laid down by the King and the Government. The Ministry of Finance shall be consulted on matters of special importance. Besides, Norges Bank is responsible for the operational management of the Government Pension Fund Global, pursuant to rules laid down the Ministry of Finance.