The National Budget 2020
Information about Norway's National Budget for 2020, presented to the Storting as Report no. 1 (2019-2020) on 7 October 2019. The National Budget presents the Government's programme for the implementation of economic policy and projections for the Norwegian economy.
Latest news about The National Budget 2020
A budget to promote employment and welfare
The Norwegian economy is in its third year of economic expansion. Employment growth is strong and the registered unemployment rate has fallen to levels last seen in 2008. Non-oil business investments are at a 10-year high. These positive developments are expected to continue. Non-oil GDP is projected to increase by 2.7 per cent this year and 2.5 per cent next year.
Outline of economic developments and fiscal policy
The Norwegian economy is in its third year of economic expansion. Activity is expanding throughout the country and in most sectors. The strong performance of the Norwegian economy is expected to continue. In the National Budget for 2020, growth in the mainland economy is forecast to reach 2.7 percent this year and 2.5 percent next year. This is above the long-term trend both this year and next.
Latest news about The National Budget 2020
- Government to provide fixed-term benefits scheme for foreign employees in Longyearbyen Press release 21/03/2020
- Economic measures in Norway in response to COVID-19 Press release 20/03/2020
- Continued commitment on capture and storage of CO₂ Press release 08/01/2020
- NOK 245 billion in net revenue from the petroleum industry in 2020 Press release 06/11/2019
- National Budget 2020: Full speed ahead in road and rail construction Press release 14/10/2019
- Proposal for Defence Budget 2020: The Norwegian Government increase the defence budget by more than 2 billion Norwegian kroner Press release 07/10/2019
- Minister of International Development creates new budget item for vulnerable groups Press release 07/10/2019
- Intensified efforts and closer cooperation on human rights Press release 07/10/2019
Documents
Meld. St. 1 (2019-2020)
National Budget 2020 - A Summary
The Norwegian economy is performing well. Unemployment is low, and new jobs are created in both rural and urban areas. This contributes to the sustainability of our welfare society.
Prop. 1 LS (2019–2020)
Taxes 2020 - Chapter 1
Proposition to the Storting (bill and draft resolution) for the fiscal year 2020