Search

OECD’s assessment of the Norwegian Economy

Every eighteen months the OECD presents a survey of the Norwegian economy. This survey is based on the Secretariat’s study prepared for the annual review of Norway by the Economic and Development Review Committee.

Management Provisions

The framework for the Government Pension Fund and the management of fund assets are laid down by Act of Parliament and guidelines with supplementary provisions.

Economy

The oil and gas sector plays a vital role in the Norwegian economy.

Convention Norway - Netherlands

Convention between the Kingdom of Norway and the Kingdom of the Netherlands Convention between the Kingdom og Norway and the Kingdom of the Netherlands, signed at Oslo on 12 January 1990. Protocol amending the Convention between the Kingdom of

Fund Performance

GPFG annual geometric average return. Measured in the currency basket. Per cent 2023 Last 5 years Last 10 years Last 20 years GPFG Portfolio 13,09 7,44 7,25 6,71 Benchmark index 13,53 7,15 6,99 6,52 Excess return (percentage points)1 -0,45 0,29 0,26

Investment Strategy

The objective of Fund investments is to achieve the highest possible return over time, given an acceptable level of risk. The Fund shall be managed responsibly within this overarching financial objective.

Strategic Benchmark Index

The strategy is defined in the Fund mandate and reflected in, inter alia, the composition of the benchmark index and risk limits established by the Ministry of Finance.

Governance Framework

The Storting has in the Government Pension Fund Act, made the Ministry of Finance responsible for the management of the Government Pension Fund Norway (GPFN). The operational management of the Fund is carried out by Folketrygdfondet.

Agreement Norway - Georgia

Agreement Norway - Uruguay

Agreement Norway - Costa Rica