The National Budget
This page contain information about Norway's National Budget, presented to the Storting. The National Budget presents the Government's programme for the implementation of economic policy and projections for the Norwegian Economy.
The Norwegian economy has recovered from the downturn induced by the 2014 drop in the oil price and is now characterized by optimism and solid growth. The 2018 Fiscal Budget approved last autumn is still well adapted to the economic situation, and thus its key features remain in the Revised Budget.
In order to ensure simultaneous access to potentially market sensitive information The Ministry of Finance here unveils selected key figures prior to the budget release, which takes place at 10:45. A table with more detailed projections will be released together with the budget.
Meld. St. 1 (2017 - 2018)
Faced with the most severe oil and gas price slump in 30 years, the Government has over the last few years actively used fiscal policy to counter unemployment. This has worked as intended. Targeted fiscal policy has, along with low interest rates and a distinct improvement in competitiveness, served to promote growth and reduce unemployment, also in southern and western Norway where economic activity was the most affected by lower oil prices. Economic growth is expected to be in line with trend growth this year and higher than trend growth next year. For the current year, this represents a significant increase from previous estimates, and the rebound appears to be swifter than had been anticipated.
Prop. 1 LS (2017 – 2018)
In order to sustain the positive development, the Government is giving priority to tax changes that strengthen the growth capacity of the economy, facilitate structural adjustment and create new jobs. The tax burden continues to be shifted from corporate tax and taxes on savings and labour to other taxes, whilst revenues from the resource rent industries are maintained. This is in line with international recommendations from, inter alia, the OECD.