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The Government’s first meeting on the budget for 2024

The budget conference takes place against a backdrop of high activity in the Norwegian economy and record high employment numbers. However, Norway is also affected by global crises and unrest - war in Europe, the energy crisis and climate change.

The Contract Continuity Regulation is extended until 1 October 2023

The Ministry of Finance has asked Finanstilsynet (the Norwegian Financial Supervisor) to assess the possible necessity of an additional national framework governing the provision of investment services from companies outside the EEA to professional

Norway strengthens the Armed Forces through purchase of new tanks

The Norwegian Government has decided to acquire 54 main battle tanks (MBT) of the Leopard 2 type from German Krauss-Maffei Wegmann, with an option to purchase an additional 18 units. The first MBTs are expected to be delivered in 2026. This

Government Pension Fund and the Santiago principles

The International Forum of Sovereign Wealth Funds (IFSWF) was established in 2009 with the purpose of promoting the Santiago Principles. Norway is not a member of the IFSWF, but fully supports these principles.

Identification of systemically important institutions

The Ministry of Finance has today decided that DNB ASA, Kommunalbanken AS and Nordea Eiendomskreditt AS shall continue to be identified as systemically important institutions in Norway, as recommended by the Norwegian FSA.

Consultation on resource rent tax on onshore wind power

The Government proposes to introduce a resource rent tax on onshore wind power from 2023 and is today sending the proposal for consultation, as described in the State Budget for 2023. It is one of several resource rent proposals which will lead to

Banks’ capital requirements unchanged

Today, the Ministry of Finance has decided to maintain the systemic risk buffer at 4.5 percent. For banks not using the Advanced IRB Approach, the phasing-in period is prolonged by one year. Thus, the systemic risk buffer of 4.5 percent shall apply

Amendments to the lending regulation

Today, the Ministry of Finance has adopted amendments to the Norwegian bank lending regulation. The amendments will take effect on 1 January 2023.

Norway signs agreement to assist Ukraine with gas procurement

Norwegian Minister of Finance Trygve Slagsvold Vedum has today signed an agreement to provide funding of NOK 2 billion to enable Ukraine to purchase natural gas during the coming winter.

Action plan to combat social dumping and work-related crime

The Action plan to combat social dumping and work-related crime was submitted by the Government 1 October 2022.

Tighter restrictions on Russian fishing vessels enter into force

The tighter restrictions on Russian fishing vessels over 500 gross tonnage announced on 6 October will enter into force on Friday 14 October. From that date these vessels will only be permitted access to the ports of Tromsø, Kirkenes and Båtsfjord.

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

Norway tightens restrictions on Russian fishing vessels

The Government has decided that Russian fishing vessels will only be permitted access to three Norwegian ports, and that all Russian vessels arriving at these ports will be subject to inspection.

Meld. St. 1 (2022-2023) National Budget 2023 - Chapter 3.1

Prop. 1 LS (2022–2023) - Taxes 2023

Prop. 1 LS (2022–2023) Proposition to the Storting (Bill and Draft Resolution) For the 2023 Budget Year

Meld. St. 1 (2022-2023) National Budget 2023 - Chapter 2.1

The National Budget 2023: A budget for security and fair distribution

There is a war and an energy crisis in Europe. High inflation is affecting people’s lives. The Government’s response is a fair and responsible budget, which improves distribution and enhances security at a challenging time.

The National Budget 2023: Adjusting the tax rules for the petroleum sector

Oil and gas prices have increased significantly since the introduction of the temporary tax rules for the petroleum sector in 2020. As a result of this, the Government will now be adjusting these rules.

The National Budget 2023: Key Figures in the National Budget 2023

To ensure simultaneous access to information which may be market sensitive, the Ministry of Finance publishes selected key figures at 8:00AM prior to the budget launch at 10:00 am. More detailed projections will be published with the National Budget.

Profits from natural resources will be better distributed

Energy producers and the aquaculture industry make billions of kroner on our common resources. The Government is now proposing that more of the value created should go back to society.