The economy

Topic

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.

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Documents

Meld. St. 1 (2021-2022)

National Budget 2022 - Chapter 3.1

Norwegian National Budget 2022 Chapter 3.1 Fiscal policy (Solberg Government).

Prop. 1 LS (2021- 2022)

Taxes 2022 - Chapter 1

Proposition to the Storting (bill and draft resolution) for the fiscal year 2022 (Solberg Government).

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