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 Government’s fiscal policy has been used actively to counter the effects of the oil price slump. The economy is now gradually recovering. In the fiscal budget for 2018, the use of petroleum revenues will therefore increase more slowly than in recent years. The Government prioritisesgrowth-promoting tax reductions and a continued focus on education, transport, health, and welfare at the local level.
To ensure simultaneous access to potentially market sensitive information in the fiscal budget, selected key figures are unveiled prior to the budget release.
Revised National Budget 2017:
The economic policies introduced in the 2017 Budget are proving effective. In the Revised Budget for 2017, the Government is therefore maintaining its focus on job creation, welfare, and security.
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.