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Meld. St. 22 (2023–2024) - The Government Pension Fund 2024

Executive summary

The Government Pension Fund white paper 2024

Today, the Ministry of Finance submits the annual white paper about the Government Pension Fund to the Storting. The white paper gives an account of the Government Pension Fund Norway (GPFN) and Government Pension Fund Global (GPFG) results and

New Norwegian Long Term Plan on Defence: 'A historic plan'

The Norwegian Government is proposing to parliament a historic increase in defence spending with 600 billion kroner over the next 12 years, from this year to 2036 (approx. 60 billion USD). It is a historic boost for the Armed Forces. All services of

Recommendations from the working group on government transactions and the money market

In June 2023, the Ministry of Finance appointed a working group composed of experts from Norges Bank (Central Bank of Norway) and the Ministry of Finance to examine the effects of government transactions on the money market. The working group has

Norway will meet NATO's 2% guideline in 2024

'The security situation nationally and internationally require that we strengthen our defence now. Norway will meet NATO's 2% guideline this year. Norwegian and allied security is not to be taken for granted. We face a more dangerous and more

Annual Report 2023

Council on Ethics for the Norwegian Government Pension Fund Global

Notification - CO2 tax - exemption for undertakings covered by the ETS

Notification - CO2 tax - exemption for undertakings covered by the ETS

Notification - excise duty on waste incineration - exemption for undertakings covered by the ETS

Notification - excise duty on waste incineration - exemption for undertakings covered by the ETS

Multilateral Convention to implement BEPS Measures (MLI)

Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.

General tax conventions between Norway and other states

General tax conventions for the avoidance of double taxation and the prevention of fiscal evasion,and other international agreements regarding tax matters.

Reports and letters

2024 Report for the Norwegian Ministry of Finance: On the global market portfolio, private-equity markets and Chines public-equity markets 2023 Assessment of Summary of “Evaluating Investments in Unlisted Equity for the Norwegian Government Pension

The lending regulation

This article gives an overview of the current Norwegian lending regulation which entered into force on 1 January 2021. It shall apply until 31 December 2024. Lenders were required to adapt their credit standards for loans with other collateral by 1

Norway will implement new rules for taxation of large multinational enterprises

Today the Government put forward a Bill to the Norwegian parliament to implement internationally agreed rules on global minimum tax. This will deter profit shifting and ensure large business groups pay at least 15 per cent tax on their profits. The

Spring and Annual Meeting at IMF and IMFC

The Nordic Baltic Constituency (NBC) consists of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The constituency submits a statement to the International Monetary and Financial Committee, IMFC.

Reports from the Nordic-Baltic Office at the IMF

The Nordic Baltic Office prepares regular reports on recent policy developments in IMF.

The Central Government's Outstanding Debt

The Central Government's Outstanding Debt contains tables describing the debt issued by the State of Norway.

Market Value

Government Pension Fund Norway market value from 1996 to 2023. NOK billion1 1 A major part of the GPFN assets was invested with the Treasury in the form of mandatory deposits until 2005. Folketrygdfondet’s participation in the mandatory deposit

Market Value

Government Pension Fund Global market value from 1996 to 2023. NOK billion GPFG market value development 1996-2023. NOK billion

Market Value

Government Pension Fund market value from 1996 to 2023. NOK billion The accumulation of capital in the GPFG originates by and large from the conversion of oil and gas resources in the North Sea and Norwegian Sea to financial assets abroad. Petroleum

Fund Performance

GPFN annual geometric average return. Measured in Norwegian kroner. Per cent 2023 Last 5 years Last 10 years Since 2007 SPN Portfolio 11,40 8,24 7,82 7,37 Benchmark index 9,94 7,35 6,88 6,38 Excess return (percentage points) 1,47 0,89 0,94 0,99