About the Ministry

Article | Last updated: 26/02/2018 | Ministry of Finance

The Ministry of Finance monitors and analyses economic trends in Norway and abroad, and gives advice in a number of areas of economic policy.

The Ministry is responsible for tax policy both regarding economic analyses of the tax system and changes in tax law. The Ministry of Finance is responsible for the regulation and supervision of financial markets and financial institutions, private pension schemes, and rules and regulations for accounting and auditing.

The Ministry of Finance is also responsible for the management of the Government Pension Fund. The Ministry is the central fiscal policy agent, and responsible i. a. for the preparation of the annual Central Government Budget Proposal, including counselling and coordination of other ministries´ budgetary work.

ESTABLISHED IN 1814
Norway became an independent state in 1814. The Ministry of Finance was established - as one of five ministries - in the same year, with the mission of fulfilling important functions related to the new nation's economy and finances.

HISTORIC PREMISES
Today, the offices of the Ministry of Finance are located in what used to be the Government building. This Art Nouveau-inspired stone building, designed by the architect Henrik Bull, is one of the main examples of early twentieth century Norwegian architecture. Work on the building was started in 1898 and completed in 1906.

STAFF
The Ministry of Finance has a staff of 286 (2017). Of these, most are university educated with the majority holding degrees in law or economics.