More on this topic

Market Value

Government Pension Fund market value from 1996 to 2024. NOK billion The accumulation of capital in the GPFG originates by and large from the conversion of oil and gas resources in the North Sea and Norwegian Sea to financial assets abroad. Petroleum

Market Value

Government Pension Fund Norway market value from 1996 to 2024. NOK billion1 1 A major part of the GPFN assets was invested with the Treasury in the form of mandatory deposits until 2005. Folketrygdfondet’s participation in the mandatory deposit

Fund Performance

GPFN annual geometric average return. Measured in Norwegian kroner. Per cent 2024 Last 5 years Last 10 years Since 2007 GPNF Portfolio 7,65 7,30 7,53 7,39 Benchmark index 6,50 6,27 6,68 6,39 Excess return (percentage points) 1,15 1,03 0,85 1,00

Fund Performance

GPFG annual geometric average return. Measured in the currency basket. Per cent 2023 Last 5 years Last 10 years Last 20 years GPFG Portfolio 13,09 7,44 7,25 6,71 Benchmark index 13,53 7,15 6,99 6,52 Excess return (percentage points)1 -0,45 0,29 0,26

Meld. St. 22 (2024–2025) - The Government Pension Fund 2025

Executive summary

Norway is strengthening cooperation with the EU to combat VAT fraud

The Norwegian Government is requesting the Storting (the Norwegian Parliament) for consent to implement a renegotiated agreement with the EU on administrative cooperation in the VAT area. According to the new Agreement, Norwegian tax authorities

External reports and letters about the Government Pension Fund

2025 GPFG CEM Investment Benchmarking report for 2023 (02/14/2025) GPFN CEM Investment Benchmarking report for 2023 (02/14/2025) 2024 Report for the Norwegian Ministry of Finance: On the global market portfolio, private-equity markets and Chines

The Finance Minister promotes Norwegian resource rent taxation in Financial Times

In the article «Tax lessons for governments from Henry George» in Financial Times, Finance Minister Trygve Slagsvold Vedum discusses how Henry George's ideas on taxation of land and resources may be relevant for the global tax debate.

Tax lessons for governments from Henry George

The 19th-century political economist understood that the whole of society should benefit from outsized profits.

By Minister of Finance Trygve Slagsvold Vedum Op-ed in Financial Times

Treaty withholding tax rates on dividends from Norway

Country Ordinary rates Parent/ subsidiary Parent/subsidiary rate requirements Without tax treaty 25 25 Albania 15 5 25% capital participation Argentina 15 10 25% capital participation Azerbaijan 15 10 30% capital participation and investment of at

State Secretary Kravik’s remarks at the G20 Anti-Corruption Ministerial Meeting

State Secretary Andreas Motzfeldt Kravik's remarks at the G20 Anti-Corruption Ministerial Meeting in Natal, Brazil 24 October 2024.

By State Secretary Andreas Motzfeldt Kravik

Henry George Lecture at St. Johns University: Norway’s Historical Experience with Taxing & Regulating the Exploitation of Its Natural Resources

Lecture held by Minister of Finance Trygve Slagsvold Vedum, at St. John University the 23 October 2024, New York, USA.

By Minister of Finance Trygve Slagsvold Vedum

State budget for 2025: Bolstering investment in women’s health

To date, the Norwegian government has bolstered investment in targeted women’s health initiatives to the tune of around NOK 150 million. In the proposed state budget for 2025, the government is suggesting a further NOK 13 million to follow up on the

State budget for 2025: Norwegian government making arrangements for 1,500 round-the-clock care places

In the state budget for 2025, the Norwegian government is proposing a commitment framework of NOK 3.25 billion for investment subsidies, corresponding to around 1,500 round-the-clock care places.

State budget for 2025: NOK 400 million for mental health and substance abuse

In the state budget for 2025, the Norwegian government is proposing to allocate NOK 400 million for following up on the escalation plan for mental health and the upcoming prevention and treatment reform for the field of substance abuse.

State budget for 2025: Norwegian government boosting hospital finances: waiting times to be slashed

In the state budget for 2025, the Norwegian government is proposing to increase operating allocations for hospitals by NOK 5.5 billion compared to the balanced budget for 2024. You would have to go back to 2008 to find the closest comparable

State budget for 2025: Historic investment in our shared health service

Health is one of the primary investment areas in the proposed national budget for 2025. Among other things, the Norwegian government is proposing to increase funding for hospitals by NOK 5.5 billion compared to the balanced budget for 2024. You

A responsible approach to floating offshore wind

The government’s offshore wind initiative continues on a steady course. The government will announce the next project areas for development of offshore wind on the Norwegian continental shelf in 2025 and is proposing 35 billion NOK for a support

Norwegian Government to expand and extend support for Ukraine’s fight for freedom

The Norwegian Government is proposing to increase the overall funding framework for the Nansen Support Programme for Ukraine to NOK 135 billion and to extend the Support Programme for an additional three years. The proposed allocation represents a

The government proposes to increase the allocation for resource and environmental mapping of seabed minerals

The government will facilitate responsible, sustainable and profitable seabed mineral activity on the Norwegian continental shelf. We need more knowledge about the mineral resources, the environmental conditions in the Norwegian deep-sea areas, and