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.
The National Budget 2024
A budget to safeguard Norwegian households
The budget for 2024 provides security and opportunity for people and businesses throughout Norway. There are expenditure increases in several areas due to war in Europe, a record number of refugees and higher prices. The Government’s priorities are good public services and support for the most vulnerable, along with security and stability. Norway will play its part in helping Ukraine and Ukrainian refugees. The Government will continue to implement the green transition and take action to achieve our climate goals.
Meld. St. 1 (2023-2024)
Chapter 2.1 The Norwegian Economy and Chapter 3.1 Fiscal Policy (Støre Government).
Meld. St. 17 (2022–2023)
Topics in this year’s paper include how international economic and political developments may affect the Government Pension Fund Global, and a new review of the active management of the Government Pension Fund Norway.