The National Budget

The National Budget

For information in English about Norway's National Budget, please visit the Norwegian National Budget Web Portal.

 

Fiscal Budget 2008: Underpinning Macroeconomic Stability

The Norwegian economy is experiencing its strongest expansion in thirty years, with annual growth in Mainland-GDP averaging more than 4½ per cent over the past four years. Employment has increased substantially and the unemployment rate has fallen to a historically low level.

Proposed Amendments to the Norwegian Special Tax Regime for Shipping Companies

The Government proposes amendments to the special tax regime for shipping companies in order to equalize the competitiveness of the regime compared to other European tax regimes for shipping. The aim is to ensure that Norway can maintain its position as one of the leading countries for international shipping.

Sound Management of the Government Pension Fund

Responsible fiscal policy, high petroleum revenues and good financial returns helped the Government Pension Fund grow to NOK 2 057 billion (about USD 375 billion) as of 30 June 2007.

Norway's Plans for Trading in GHG Emissions

The Norwegian government today announced a NOK 500 million appropriation for the purpose of purchasing Emission Reductions eligible for Kyoto Protocol compliance. The appropriation is administered by the Ministry of Finance, which is also authorised to contract a further NOK 3 600 million for payments against deliveries in 2009 and subsequent years.

Direct and Indirect Taxes - Main Features of the 2008 Proposal

The objectives of the Government’s tax policy are to safeguard revenue for communal purposes, contribute to fairness in distribution and an improved environment, promote employment throughout the country and enhance the workings of the economy.

Fiscal budget 2008: Strong focus on transport and communications – NOK 24.7 billion

The government proposes a NOK 24.7 billion appropriation to transport and communications via the 2008 fiscal budget. This is an increase of about NOK 1.1 billion or 4.7 per cent over the revised 2007 budget.

(Ministry of Transport and Communications, 05.10.2007)

Defence budget 2008

The Government proposes to allocate NOK 31.5 billion for defence in 2008. This is a continuation in real terms of last years level of defence funding and gives a 98 percent fulfilment of the funding allocation for the current long-term plan. The operating budget is NOK 300 million above the level anticipated in the current long-term plan.

(Ministry of Defence, 05.10.2007)

Increased budget for peace, reconciliation and humanitarian assistance

In the government budget for 2008, the Government proposes that allocations for peace, human rights and humanitarian assistance be increased by NOK 306 million.

(Ministry of Foreign Affairs, 05.10.2007)

Boost for Norwegian culture abroad

The Government is proposing an increase in the allocations for the promotion of Norwegian culture and Norway’s public diplomacy efforts abroad of NOK 12.8 million, to NOK 189.3 million. This includes support for cultural cooperation with developing countries. This means that the total increase in funding for cultural activities abroad since 2005 will be close to 40 per cent.

(Ministry of Foreign Affairs, 05.10.2007)

Increased grants to stimulate active European policy

The Government is proposing to earmark NOK 1.585 billion for the EEA financial mechanisms its 2008 budget proposal. In addition, it is proposing to allocate NOK 1 million to a new grant scheme for the social partners. Support for information activities on European issues will also be increased.

(Ministry of Foreign Affairs, 05.10.2007)

Fiscal Budget 2008: Underpinning Macroeconomic Stability

The Norwegian economy is experiencing its strongest expansion in thirty years, with annual growth in Mainland-GDP averaging more than 4½ per cent over the past four years. Employment has increased substantially and the unemployment rate has fallen to a historically low level.

(Ministry of Finance, 05.10.2007)

Allocations for the High North to be increased by NOK 196 million

In keeping with the High North Strategy, the Government is proposing an increase of NOK 196 million in the 2008 government budget to follow up its special focus on the High North. This means that the Government will have increased allocations for the High North by almost NOK 0.5 billion in the course of this year and next.

(Ministry of Foreign Affairs, 05.10.2007)

- A proactive budget for Norway’s knowledge economy

The Norwegian Government intends to create 350 new fellowships to boost recruitment of scientists and academics. The Government also intends to increase the capital of the Research and Innovation Fund to NOK 66 billion in 2008. Total budget allocations to research and development will increase by NOK 1.2 billion. More student residences and increased student funding are also on the Government’s agenda for 2008.

(Ministry of Education and Research, 05.10.2007)

Increased support for trade-related development cooperation

The Government will step up its efforts to strengthen poor countries’ opportunities to trade with other countries. It is therefore proposing an additional allocation of NOK 50 million for “Aid for trade” in the 2008 international development budget.

(Ministry of Foreign Affairs, 05.10.2007)

Direct and Indirect Taxes - Main Features of the 2008 Proposal

The objectives of the Government’s tax policy are to safeguard revenue for communal purposes, contribute to fairness in distribution and an improved environment, promote employment throughout the country and enhance the workings of the economy.

(Ministry of Finance, 05.10.2007)

More documents about this subject
Old Government Building: Details from the interior - Mythical Animal
The National Budget 2008

Contact information

Budget Department

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Fax: +47 22 24 95 05

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The Ministry of Finance
Budget Department
P.O. Box 8008 Dep
0030 Oslo
Norway

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