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Adherence of the Government Pension Fund Norway (GPFN) to the Santiago principles

The Ministry of Finance has recently conducted an update of the self-assessments of the Government Pension Fund’s adherence to the Santiago Principles, cf. separate reviews of the GPFG and the GPFN, respectively. This self-assessment documents the

Adherence of the Government Pension Fund Global (GPFG) to the Santiago principles

The Ministry of Finance has recently conducted an update of the self-assessments of the Government Pension Fund’s adherence to the Santiago Principles, cf. separate reviews of the GPFG and the GPFN, respectively. This self-assessment documents the

IMF: Favourable growth prospects, solid fundamentals and policy management

The International Monetary Fund (IMF) today presented its yearly assessment of the Norwegian economy and Norwegian economic policy. An IMF delegation has spent the last week meeting Norwegian authorities, academic and financial institutions and

Revised National Budget: A responsible budget that provides security for people throughout Norway

In the revised budget, the government will prioritise crucial public services such as healthcare, the police and refugees. Providers of public services and benefit recipients will receive compensation for wage growth and inflation. The government

Revised National Budget: Key figures in the Revised National Budget 2023

To secure equal access to information that might be market sensitive, the Ministry of Finance publishes selected key figures prior to launching the Revised National Budget at 10:45 a.m. More detailed forecasts will be published in the Revised Budget.

Revised National Budget: Postponed implementation of resource rent tax on onshore wind power

The Government wants a larger share of the value which is created from the country’s common natural resources to benefit local communities, municipalities and society as a whole. The Government notified its intention to propose a resource rent tax

Norwegian Government plans to meet NATO’s 2 % goal by 2026

Strengthening defence and civil preparedness is one of the Government’s main priorities in the years to come.

Exchange of Information and other Agreements Regarding Muteral Administrative Assistance

The list below contains an overview of Agreements on Exchange of Information in Tax Matters Norway has entered into. In addition to the agreements listed below, all of the Double Tax Treaties Norway has entered into with other countries contain

Strategic Benchmark Index

The strategy is defined in the Fund mandate and reflected in, inter alia, the composition of the benchmark index and risk limits established by the Ministry of Finance.

Strategic Benchmark Index

The mandate issued by the Ministry of Finance to Norges Bank expresses the long-term investment strategy for the Fund, including the strategic benchmark index and appurtenant provisions on the execution of the management assignment.

Governance Framework

The Storting has in the Government Pension Fund Act, made the Ministry of Finance responsible for the management of the Government Pension Fund Norway (GPFN). The operational management of the Fund is carried out by Folketrygdfondet.

Investment Strategy

The objective of Fund investments is to achieve the highest possible return over time, given an acceptable level of risk. The Fund shall be managed responsibly within this overarching financial objective.

Governance model

The Ministry of Finance holds the overall responsibility for the management of the Government Pension Fund. The Government Pension Fund comprises the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN). The

ESRB recommends reciprocation of Norwegian capital requirements for banks

The European Systemic Risk Board (ESRB) has issued a recommendation to other EEA states to reciprocate Norwegian capital requirements for banks. The recommendation concerns the systemic risk buffer requirement and temporary risk weight floors for

Annual Report to the Storting

Transparency is a prerequisite for ensuring widespread confidence in the management of the Government Pension Fund. The Ministry gives an account of the management of the Fund in an annual report to the Storting, as well as in the National Budget.

Annual white paper on the Government Pension Fund

Today, the Ministry of Finance submits the white paper The Government Pension Fund 2023 to the Storting. Topics in this year’s paper include how international economic and political developments may affect the Government Pension Fund Global, and a

Meld. St. 17 (2022–2023) - The Government Pension Fund 2023

Prop. 78 LS (2022–2023) - Resource rent tax on aquaculture

The Norwegian Government’s proposed resource rent tax on aquaculture

The Government will today present a bill proposing a resource rent tax on aquaculture. The intention of the proposal is to ensure that local communities along the coast and society as a whole receive a greater share of the value that is created by

Annual Report 2022

Council on Ethics

The role of the Council on Ethics for the Government Pension Fund Global (GPFG) is to evaluate whether or not the Fund’s investment in specified companies is inconsistent with its Ethical Guidelines.