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Market Value

Government Pension Fund Norway market value from 1996 to 2024. 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

Fund Performance

GPFN annual geometric average return. Measured in Norwegian kroner. Per cent 2024 Last 5 years Last 10 years Since 2007 GPNF Portfolio 7,65 7,30 7,53 7,39 Benchmark index 6,50 6,27 6,68 6,39 Excess return (percentage points) 1,15 1,03 0,85 1,00

Investment Strategy

The objective for the management of the GPFN is to maximise financial returns measured in Norwegian kroner, given a moderate level of risk. The main part of the assets of the GPFN is invested in the Norwegian equity and fixed income markets.

The Advisory Panel on Fiscal Policy Analysis

The Advisory Panel on Fiscal Policy Analysis (formerly the Ministry of Finance’s Advisory Panel on Macroeconomic Models and Methods) provides professional advice on the Ministry of Finance’s work on macroeconomic issues and fiscal sustainability.

General information about the Kingdom of Norway and the Norwegian Economy 2007

This is an annual report by the Ministry of Finance containing general information about the Kingdom of Norway and the Norwegian economy 2007.

The Report on Energy Stocks in the Government Pension Fund Global

On 12 June, the Storting deliberated Meld. St. 14 (2018-2019), Energy Stocks in the Government Pension Fund Global. The report proposed omitting equity investments in companies classified as exploration and production companies from the benchmark

Home/host issues for significant bank branches

Dear Mr Dombrovskis;

The proposed Payment Services Directive II - regarding comsumer protecion

As party to the EEA Agreement, Norway has implemented Directive 2007/64/EC (PSD I), and has a strong interest in how the revised Directive will be drafted.

Additional information concerning the tax on chocolate and sugar products

Response to the UN Special Rapporteur on the situation of human rights in the Palestinian Territory

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

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

Modernisation of the Monetary Policy Regulation

In the Financial Markets Report for 2016, the Ministry of Finance announced that work had begun to modernise the Monetary Policy Regulation. The current regulation was laid down in 2001. The wording of the current regulation reflected the challenges

Carbon Border Adjustment Mechanism – Preliminary Norwegian Positions

High ambitions, collective effort and urgent action are needed to speed up the transition to a sustainable, resilient, climate neutral and environmentally friendly future.

Carbon Border Adjustment Mechanism – Norwegian Positions

Norway and the EU have a strong relationship, sharing common fundamental values and a common regulatory framework through the European Economic Area (EEA). We are partners and cooperate to fulfil common climate targets.

Norwegian Government to expand and extend support for Ukraine’s fight for freedom

The Norwegian Government is proposing to increase the overall funding framework for the Nansen Support Programme for Ukraine to NOK 135 billion and to extend the Support Programme for an additional three years. The proposed allocation represents a

Annual white paper on the Government Pension Fund

Today, The Ministry of Finance is presenting the 2025 white paper on the Government Pension Fund (Meld. St. 22 (2024-2025)). In the white paper, the Ministry reports on the results and management of the Government Pension Fund Global and the

The National Budget 2025: Closing tax loopholes by amending the exit tax rules

In practice, the current exit tax rules function as a tax loophole. The Government wants to close this loophole and proposes, in the National Budget for 2025, to amend the exit tax rules to make them more effective and fairer.

State budget for 2025: Bolstering investment in women’s health

To date, the Norwegian government has bolstered investment in targeted women’s health initiatives to the tune of around NOK 150 million. In the proposed state budget for 2025, the government is suggesting a further NOK 13 million to follow up on the

Launch of Norway’s first national security strategy: The world has become more dangerous and more unpredictable

Today, Prime Minister Jonas Gahr Støre presented Norway’s first national security strategy. The new strategy sets the direction and priorities for the collective national effort to enhance Norway’s security.

Revised National Budget: NOK 32 million proposed for online doctor trial

As part of the strategy to improve GP services, the government has introduced a trial scheme for online doctors. In the revised national budget, the government proposes an additional NOK 32 million to the municipalities for the trial, taking the