Speeches and articles by Minister of Industry Monica Mæland

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  • NOK 150 million for development programme to combat plastic and other marine litter

    ‘Norway intends to take the lead in ocean affairs internationally. Marine litter, including plastics, has become one of the most serious environmental problems of our time. That is why the Government is launching a concerted effort to combat marine litter and microplastics and is establishing a development programme in this field,’ said Minister of Foreign Affairs Børge Brende.

  • Main features of the tax programme for 2018

    In order to sustain the positive development, the Government is giving priority to tax changes that strengthen the growth capacity of the economy, facilitate structural adjustment and create new jobs. The tax burden continues to be shifted from corporate tax and taxes on savings and labour to other taxes, whilst revenues from the resource rent industries are maintained. This is in line with international recommendations from, inter alia, the OECD.

  • National Budget 2018 - A Summary

    Faced with the most severe oil and gas price slump in 30 years, the Government has over the last few years actively used fiscal policy to counter unemployment. This has worked as intended. Targeted fiscal policy has, along with low interest rates and a distinct improvement in competitiveness, served to promote growth and reduce unemployment, also in southern and western Norway where economic activity was the most affected by lower oil prices. Economic growth is expected to be in line with trend growth this year and higher than trend growth next year. For the current year, this represents a significant increase from previous estimates, and the rebound appears to be swifter than had been anticipated.

  • The Government will further develop the National Tourist Trails

    The Government will facilitate the best-known hiking trails for tourists. The Ministry of Climate and Environment proposes spending NOK 10.5 million on this, an increase of 3 million from 2017.

  • NOK 1.3 billion increase for climate and environment

    The Government's budget proposal for 2018 has a clear climate and environment profile. A number of climate measures have been proposed that cut greenhouse gas emissions, both nationally and internationally. In addition, there are measures that strengthen the business sector's green competitiveness. A new investment company is one of the tools.

  • NOK 7.7 billion to global health and education

    'Education and health are essential for sustainable development and poverty reduction in all countries. The Government will continue to increase funding for global health and education and is proposing a total allocation of NOK 7.7 billion for these two areas in 2018,' said Minister of Foreign Affairs Børge Brende.

  • More money for rainforests

    The government proposes to grant 3 billion Norwegian kroner on next year's budget to help preserving rainforests. This is an increase from 2017 of 118 million Norwegian kroner.

  • A budget spurring on green competitiveness

    The government will strengthen Norway's green competitiveness and cooperate with industry to create new jobs. The Ministry of Climate and Environment will also spend more money on climate research, climate negotiations and on the UN climate panel.

  • Norwegian Government Proposes Significant Boost in Defence Expenditures

    The Norwegian government continues to give priority to the defence sector in its annual budget proposal through a NOK 3 billion increase in 2018. It shows the government’s commitment to increase defence spending every year to meet the ambitions set out in the Long Term Plan “Capable and sustainable” for the defence sector for the years 2017-2020. In a more complex and dangerous world, Norway continues to invest in its Armed Forces.

  • NOK 1.3 billion increase in aid budget for 2018

    'The Government's proposed aid budget for 2018 is bigger than ever before and amounts to NOK 35.1 billion. This is NOK 1.3 billion more than in 2017. We are intensifying our efforts to reach the UN Sustainable Development Goals (SDGs) and giving priority to areas that we know promote long-term development, growth and stability. The budget gives clear priority to efforts in the five areas of education, health, climate change and renewable energy, job creation, humanitarian assistance, and efforts in regions affected by conflict and fragility,' said Minister of Foreign Affairs Børge Brende.

  • Educating people for the future

    The Government is strengthening Norway's competitiveness through its commitment to knowledge and research. In the state budget for 2018, the Government proposes, among other things, to strengthen efforts on early intervention in kindergarten and primary and lower secondary school, and to increase allocations for research, vocational training (VET) and vocational colleges.

  • Market Value

    The market value of the GPFG equalled 8,018 billion Norwegian kroner at the end of June 2017. Investments in equities, fixed-income and unlisted real estate corresponded to 5,220 billion, 2,600 billion and 200 billion kroner, respectively, equivalent to a proportion of Fund assets of 65.1 percent, 32.4 percent and 2.5 percent.

  • Ministry of Defence

    The Ministry of Defence is a Government Office with responsibility for the formation and implementation of Norwegian security and defence policy.

  • Fund Performance

    From 1 January 1998 to the end of June 2017, the average annual nominal return on the GPFG was 5.9 percent as measured in the currency basket of the Fund. The nominal return net of asset management costs and inflation (net real return) is in the said period calculated at 4.0 percent.

  • Greater engagement in countries and regions affected by conflict and fragility

    The Government is proposing a NOK 280 million increase in funding for stabilisation efforts in countries and regions affected by conflict and fragility. In addition, the Government proposes to triple support for efforts to combat global security challenges such as terrorism, extremism and organised crime. As announced in a recent white paper on Norway's foreign and security policy, the Government intends to redouble its efforts in unstable areas in Europe's neighbourhood.

  • Norway to step up funding to alleviate humanitarian crises

    The Government proposes an increase in humanitarian funding to an unprecedented level. 'Never before have so many people been affected by wars, conflicts and natural disasters. Given that more than 140 million people are in need of humanitarian assistance worldwide and the UN is not receiving enough funding, it is vital that Norway increases its humanitarian aid,' said Minister of Foreign Affairs Børge Brende.

  • Web TV

    A budget for economic growth, job creation, and a sustainable welfare state

    The Government’s fiscal policy has been used actively to counter the effects of the oil price slump. The economy is now gradually recovering. In the fiscal budget for 2018, the use of petroleum revenues will therefore increase more slowly than in recent years. The Government prioritisesgrowth-promoting tax reductions and a continued focus on education, transport, health, and welfare at the local level.

  • Ministry of Finance

    The Ministry of Finance is responsible for planning and implementing the Norwegian economic policy and for coordinating the work with the Fiscal Budget.

  • Fund Performance

    The GPFN generated a nominal rate of return of 3.7 percent in the first half of 2017, as measured in Norwegian kroner and before the deduction of asset management costs. The equity and fixed-income portfolios produced an aggregate return of 4.7 percent and 2.2 percent, respectively.

  • Market Value

    Aggregate market value of the Government Pension Fund was 8,238 billion Norwegian kroner at the end of June 2017. The GPFG accounted for in excess of 97 percent of total assets.