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.

What's new

Illustrasjonsbilde for revidert statsbudsjett 2021

Revised National Budget

A budget to promote recovery and inclusion

11/05/2021: We see brighter times ahead. Still, uncertainty is high, and costs of the crisis are unevenly distributed. In the Revised Budget, the government aims at reducing the long-term economic effects of the crisis and help those that are still hard-hit. The proposed Revised Budget strengthens and renews the government’s strategy to take Norway safely out of the corona crisis.

Illustrasjonsbilde for revidert statsbudsjett 2021

Revised National Budget

Key figures in the Revised National Budget 2021

11/05/2021: To secure equal access to information that might be market sensitive, the Ministry of Finance publishes selected key figures prior to launching the Revised National Budget at 10:45 a.m. More detailed estimates will be published with the Revised Budget.