The economy
In the Government, it is the Minister of Finance’s responsibility to draw up and coordinate economic policy. The Ministry of Finance acts as the secretariat for the Minister of Finance. It is the political authorities – the Government and the Storting – that make the decisions.
The Norwegian Fiscal Policy Framework
The Government Pension Fund Global and the fiscal rule have since 2001 set out the plan for the phasing-in of petroleum income and investment returns to the Norwegian economy. The Government Pension Fund Act stipulates that the State’s net cash flow from the petroleum industry shall in its entirety be transferred to the Government Pension Fund Global, and that resources in the Fund can only be transferred to the budget pursuant to a decision by Parliament.
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.
Related topics and insights
What's new
The National Budget 2021:
Producing more and making working life more inclusive
07/10/2020: Norway has in 2020 experienced an economic setback without precedent since the war. Activity has been on the rebound in the last few months, but the road ahead remains fraught with uncertainty. The fiscal budget for 2021 shall help Norway recover the coronavirus crisis.
The National Budget 2021:
Key Figures in the National Budget 2021
07/10/2020: To ensure simultaneous access to potentially market-sensitive macroeconomic data, the Ministry of Finance publishes selected key figures prior to the National Budget and fiscal budget launch at 10:00 a.m. More detailed estimates will be published together with the National Budget.
Latest news
- Simplification of the benchmark index for the Government Pension Fund Global Press release 09/04/2021
- Strengthening of the ethical framework for the Government Pension Fund Global Press release 09/04/2021
- Responsible long-term management of the Government Pension Fund Press release 09/04/2021
- Countercyclical buffer unchanged Q1 2021 Press release 18/03/2021
- Brighter days ahead Press release 16/03/2021
- The Minister of Finance’s introductory remarks in connection with the presentation of the white paper on Long-term Perspectives on the Norwegian Economy 2021 Speech/statement 16/02/2021
- Why the rich world cannot afford to leave the poor behind on vaccines Speech/statement 16/02/2021
Documents
The National Budget 2021:
Meld. St. 1 (2020–2021) National Budget 2021
English summary of the Norwegian National Budget, containing main economic policy features and outlook for the Norwegian economy.
National Budget 2021:
Prop 1 LS (2020-2021) Taxes 2021
Proposition to the Storting (bill and draft resolution) for the fiscal year 2021.
Latest documents
- NOU 2021: 4 - Norway towards 2025 – Summary Norwegian Official Report (NOU) 25/03/2021
- Meld. St. 14 (2020–2021) - Long-term Perspectives on the Norwegian Economy 2021 Report to the Storting 12/02/2021
- Meld. St. 32 (2019–2020) - The Government Pension Fund 2020 Report to the Storting 21/09/2020
- NOU 2020: 7 - Values and Responsibility Norwegian Official Report (NOU) 15/06/2020
Contact
Ministry of Finance
E-mail: postmottak@fin.dep.no
Phone: (+47) 22 24 90 90
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo
The Economic Policy Department
E-mail: postmottak@fin.dep.no
Phone: +47 22 24 45 03
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo