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.
The Revised National Budget 2024
A budget to provide security in demanding times
Defence and security are the priorities in the Norwegian government’s proposal for the Revised National Budget. The government’s most important duty is to safeguard its people. Defence capability will be strengthened with a historic budget increase and police budgets will also increase to help combat gang crime. The government continues to uphold public services for the Norwegian people, supporting hospitals and reducing waiting times.
Documents and press releases
Chapter 2.1 The Norwegian Economy and Chapter 3.1 Fiscal Policy (Støre Government).
Meld. St. 22 (2023–2024)
The Government Pension Fund 2024
Latest on the economy
What's new
- A responsible approach to floating offshore wind Press release 07/10/2024
- Norwegian Government to expand and extend support for Ukraine’s fight for freedom Press release 07/10/2024
- The government proposes to increase the allocation for resource and environmental mapping of seabed minerals Press release 07/10/2024
- The National Budget 2025: The Norwegian government proposes a 19 billion (NOK) increase in defence spendings News story 07/10/2024
- The Longship project is near completion Press release 07/10/2024
Documents
- Meld. St. 1 (2024–2025) - The National Budget 2025 Report to the Storting 07/10/2024
- Prop. 1 LS (2024–2025) - Taxes 2025 Proposition 07/10/2024
- Meld. St. 31 (2023–2024) - Long-term Perspectives on the Norwegian Economy 2024 Report to the Storting 09/08/2024
- Meld. St. 22 (2023–2024) - The Government Pension Fund 2024 Report to the Storting 12/04/2024
- Notification - CO2 tax - exemption for undertakings covered by the ETS Letter 05/03/2024
Related topics
Contact
Ministry of Finance
E-mail: postmottak@fin.dep.no
Phone:
(+47) 22 24 90 90
Address:
Postboks 8008 Dep, 0030 Oslo
Visitor address:
Akersgata 40, 0180 Oslo
Economic Policy Department
E-mail: postmottak@fin.dep.no
Phone:
+47 22 24 90 90
Address:
Postboks 8008 Dep, 0030 Oslo
Visitor address:
Akersgata 40, 0030 Oslo