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Article IV and FSAP

Under Article IV of the IMF's Articles of Agreement, the IMF visits Norway and holds bilateral discussions every year. A staff team collects economic and financial information, and discusses with officials the Norwegian economic developments and

Annual white paper on the Government Pension Fund

Today, The Ministry of Finance is presenting the 2025 white paper on the Government Pension Fund (Meld. St. 22 (2024-2025)). In the white paper, the Ministry reports on the results and management of the Government Pension Fund Global and the

Market Value

Government Pension Fund Global market value from 1996 to 2024. NOK billion GPFG market value development 1996-2024. NOK billion

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

Norway to increase support to Ukraine by NOK 50 billion

The Government has proposed a substantial increase in Norway’s military support to Ukraine in 2025, in line with the broad-based political agreement reached in the Storting.

The 8 Nordic-Baltic countries publish report on large financial crisis simulation exercise

Over a period of five days in the autumn of 2024, the Nordic-Baltic Stability Group (NBSG ) conducted a financial crisis simulation exercise across its 8 member countries. The goal of the exercise was to test collaboration and coordination across

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

Annual Report 2024

Council on Ethics for the Norwegian Government Pension Fund Global

Norway to increase its support to Ukraine by NOK 50 billion

Norway is now significantly increasing its support to Ukraine. The parties in the Storting have agreed to increase allocations to Ukraine for 2025 by an additional NOK 50 billion.

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

Terminated general tax conventions between Norway and other states

Terminated general tax conventions for the avoidance of double taxation and the prevention of fiscal evasion, and other international agreements regarding tax matters.

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

Amendments to the lending regulation

The Ministry of Finance has adopted amendments to the Norwegian bank lending regulation. The amendments will take effect on 31 December 2024.

Norway to continue as guest country in G20

On Tuesday, 3 December, South Africa announced that Norway will continue to participate as a G20 guest country under the South African G20 Presidency. Norway had status as a guest country in 2024 under the Brazilian presidency.

Identification of systemically important institutions

The Ministry of Finance has today decided that DNB Bank ASA, Kommunalbanken AS, Nordea Eiendomskreditt AS and Sparebank 1 Sør-Norge ASA still shall be identified as systemically important institutions in Norway, as recommended by the Norwegian FSA.