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
- The National Budget 2021: 80 billion kroner to improved transport nationwide Press release 14/10/2020
- Major focus on North Norway Press release 07/10/2020
- Stronger focus on global health Press release 07/10/2020
- The National Budget 2021: Producing more and making working life more inclusive Press release 07/10/2020
- NOK 5.5 billion for humanitarian assistance in 2021 Press release 07/10/2020
- The National Budget 2021: Key Figures in the National Budget 2021 Press release 07/10/2020
- Countercyclical buffer unchanged Press release 24/09/2020
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
- Meld. St. 32 (2019–2020) - The Government Pension Fund 2020 — Meld. St. 32 (2019–2020) Report to the Storting (white paper) Report to the Storting 21/09/2020
- NOU 2020: 7 - Values and Responsibility Norwegian Official Report (NOU) 15/06/2020
- Meld. St. 22 (2019–2020) - Financial Markets Report 2020 Report to the Storting 24/04/2020
- Additional information concerning the tax on chocolate and sugar products Letter 28/02/2020
Contact
Ministry of Finance
E-mail: [email protected]
Phone: +47 22 24 90 90
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo
The Economic Policy Department
E-mail: [email protected]
Phone: +47 22 24 45 03
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo