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269785
Assets and liabilities adjusted
statistikk
2016-12-08T08:00:00.000Z
Public sector;Public sector
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offogjeld, General government, financial assets and liabilities, central government, local government, stock, transactions, assets by type (for example bonds, shares, lending), net assets, liabilities by type (for example commercial papers, bonds, loans)Local government finances , General government , Central government finances , Public sector
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This statistics comprise financial assets and liabilities for general government and its sub-sectors and government gross debt for Norway

General government, financial assets and liabilities

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General Government. Financial assets and liabilities. NOK billionPublished 8 December 2016
2015Opening balanceTransactionsCapital gainsClosing balance
TOTAL ASSETS8 87537284910 096
Currency and deposits228-141215
Bonds2 4151442262 785
Loans638919738
Shares and other equity5 2331356095 977
Other accounts receivable360174381
TOTAL LIABILITIES1 044182-61 219
Bonds49132-6517
Loans3941231518
Other accounts payable15828-1184
NET FINANCIAL ASSETS7 8311908558 876

Source: Statistics Norway

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Table 1 
General government. Financial assets and liabilities. NOK million

General government. Financial assets and liabilities. NOK million
Stocks
20112012201320142015
Assets
Currency and deposits169 100236 490191 316227 719214 732
Short term bonds531 4091 9483 81934 047
Long term bonds1 415 4261 531 6141 941 9352 411 4262 751 041
Loans receivable572 555605 459682 965638 497737 654
Shares and other equity2 919 4333 314 0414 288 1355 233 3065 977 012
of which shares2 609 8703 001 6743 902 5374 734 2045 414 563
of which capital contribution295 714299 110371 680486 064549 411
Insurance technical reserves31 49037 20952 45464 44771 721
Other accounts receivables305 520324 238302 235295 704309 474
ASSETS TOTAL5 413 5776 050 4607 460 9888 874 91810 095 681
of which receivables from foreign countries3 407 4533 931 9765 222 5306 541 6357 712 594
 
Liabilities
Short term bonds221 129210 447173 44295 061114 988
Long term bonds245 650316 115323 491396 373402 449
Loans339 605365 113441 745394 387517 657
Other accounts payable137 589144 758151 999157 762184 238
LIABILITIES TOTAL943 9731 036 4331 090 6771 043 5831 219 332
of which is liabilities to foreign countries298 264329 518382 572316 890454 750
 
Net financial assets4 469 6045 014 0276 370 3117 831 3358 876 349
Change in net financial assets219 849544 4231 356 2841 461 0241 045 014
 
Transactions
20112012201320142015
Assets
Currency and deposits-50 06867 549-45 26735 626-14 369
Short term bonds-284-4095371 87430 177
Long term bonds16 007158 531344 23076 872113 382
Loans receivable-195 90132 69465 699-57 60390 571
Shares and other equity248 048233 21653 679167 407134 559
of which shares240 110229 26635 608145 789131 088
of which capital contribution8 8094 98818 03522 8433 733
Insurance technical reserves-7147852 6633 9224 001
Other accounts receivables23 4443 314-21 013-78813 414
ASSETS TOTAL40 532495 680400 528227 310371 735
of which receivables from foreign countries95 639393 605425 041229 642372 740
 
Liabilities
Short term bonds-60 8611 816-39 202-79 46219 518
Long term bonds-20 31766 71917 52162 35912 211
Loans-220 92012 60371 721-51 275122 527
Other accounts payable-19 247-2 7407 7506 77527 733
LIABILITIES TOTAL-321 34578 39857 790-61 603181 989
of which is liabilities to foreign countries-286 77428 56656 024-75 883140 912
 
Net lending361 877417 282342 738288 913189 746
 
Other change
20112012201320142015
Assets
Currency and deposits-137-160937771 382
Short term bonds171 7652-351
Long term bonds60 103-42 34366 091392 619226 233
Loans receivable78621011 80713 1358 586
Shares and other equity-198 523161 392920 415777 764609 147
of which shares-205 792162 538865 255685 878549 271
of which capital contribution7 617-1 59254 53591 54159 614
Insurance technical reserves11 8434 93412 5828 0713 273
Other accounts receivables-4 90415 404-990-5 743356
ASSETS TOTAL-130 815141 2031 010 0001 186 620849 028
of which receivables from foreign countries-139 650130 918865 5131 089 463798 219
 
Liabilities
Short term bonds-483-12 4982 1971 081409
Long term bonds6 4253 746-10 14510 523-6 135
Loans5 22912 9054 9113 917743
Other accounts payable429 909-509-1 012-1 257
LIABILITIES TOTAL11 21314 062-3 54614 509-6 240
of which is liabilities to foreign countries10 0002 688-2 97010 201-3 052
 
Net revaluations-142 028127 1411 013 5461 172 111855 268

Source: Statistics Norway

Table 2 
Central government. Financial assets and liabilities. NOK million

Central government. Financial assets and liabilities. NOK million
Stocks
20112012201320142015
Assets
Currency and deposits103 910164 909117 412154 227129 192
Short term bonds0141 8003 98836 842
Long term bonds1 400 8221 521 8191 932 7002 399 5132 738 283
Loans receivable519 222541 428613 182562 238658 243
Shares and other equity2 857 4633 248 8654 214 4815 158 5005 897 465
of which shares2 568 0252 956 9443 852 9854 683 9015 360 709
of which capital contribution288 800291 322361 115474 426536 506
Insurance technical reserves0002 4512 644
Other accounts receivables267 548286 316266 618255 959263 333
ASSETS TOTAL5 148 9655 763 3517 146 1938 536 8769 726 002
of which receivables from foreign countries3 405 9803 930 4185 221 0136 540 2447 711 285
 
Liabilities
Short term bonds185 255174 157142 23156 50264 647
Long term bonds206 286271 110261 442319 328317 881
Loans84 88787 558142 30579 923188 840
Other accounts payable93 148102 244113 222121 293141 945
LIABILITIES TOTAL569 576635 069659 200577 046713 313
of which is liabilities to foreign countries296 212325 345375 203308 195444 556
 
Net financial assets4 579 3895 128 2826 486 9937 959 8309 012 689
 
Transactions
20112012201320142015
Assets
Currency and deposits-53 17261 229-47 58436 046-26 409
Short term bonds-250141 7862 19032 804
Long term bonds15 094159 109344 88174 353112 425
Loans receivable-200 19324 67659 947-64 07987 419
Shares and other equity252 043234 13346 647167 601134 593
of which shares243 648229 31330 657145 507128 742
of which capital contribution8 2484 88616 01222 0905 774
Insurance technical reserves000372136
Other accounts receivables25 0508 430-18 785-4 9916 885
ASSETS TOTAL38 572487 591386 892211 492347 853
of which receivables from foreign countries95 913393 586425 191229 849373 116
 
Liabilities
Short term bonds-68 181-10 277-33 935-86 7377 789
Long term bonds-19 12261 64757048 2633 993
Loans-244 3043 84749 835-66 296108 175
Other accounts payable-19 4693 09911 4438 98321 814
LIABILITIES TOTAL-351 07658 31627 913-95 787141 771
of which is liabilities to foreign countries-286 62326 37852 846-76 854139 319
 
Net lending389 648429 275358 979307 279206 082
 
Other change
20112012201320142015
Assets
Currency and deposits-146-231877691 374
Short term bonds000-250
Long term bonds59 683-38 11266 000392 460226 345
Loans receivable788-2 47011 80713 1358 586
Shares and other equity-197 555157 269918 969867 853604 372
of which shares-205 155159 606865 384685 409548 066
of which capital contribution7 617-2 36453 78191 22156 306
Insurance technical reserves0002 07957
Other accounts receivables-9 02910 338-913-5 668489
ASSETS TOTAL-146 259126 795995 9501 179 191841 273
of which receivables from foreign countries-139 704130 852865 4041 089 382797 925
 
Liabilities
Short term bonds-607-8212 0091 008356
Long term bonds5 3273 177-10 2389 623-5 440
Loans5 229-1 1764 9123 914742
Other accounts payable235 997-465-912-1 162
LIABILITIES TOTAL9 9727 177-3 78213 633-5 504
of which is liabilities to foreign countries9 8482 755-2 9889 846-2 958
 
Net revaluations-156 231119 618999 7321 165 558846 777

Source: Statistics Norway

Table 3 
Local government. Financial assets and liabilities. NOK million

Local government. Financial assets and liabilities. NOK million
Stocks
20112012201320142015
Assets
Currency and deposits65 19071 58173 90473 49285 540
Short term bonds1421 5151 151726548
Long term bonds14 7569 9279 27111 95012 786
Loans receivable53 86264 76570 53576 89879 800
Shares and other equity61 97065 17673 65474 80679 547
of which shares41 84544 73049 55250 30353 854
of which capital contribution6 9147 78810 56511 63812 905
Insurance technical reserves31 49037 20952 45461 99669 077
Other accounts receivables55 96658 35257 04962 81270 662
ASSETS TOTAL283 376308 525338 018362 680397 960
of which receivables from foreign countries1 4731 5581 5171 3911 309
 
Liabilities
Short term bonds35 96336 41032 21439 45453 684
Long term bonds39 51645 13762 08577 08284 596
Loans255 247278 289300 192315 103329 206
Other accounts payable62 43562 94460 20959 53666 814
LIABILITIES TOTAL393 161422 780454 700491 175534 300
of which is liabilities to foreign countries2 0524 1737 3698 69510 194
 
Net financial assets-109 785-114 255-116 682-128 495-136 340
 
Transactions
20112012201320142015
Assets
Currency and deposits3 1046 3202 317-42012 040
Short term bonds-84-394-364-425-178
Long term bonds-83-597-7462 519950
Loans receivable4 3758 2235 7706 3632 902
Shares and other equity-3 995-9177 032-194-34
of which shares-3 538-474 9512822 346
of which capital contribution5611022 023753-2 041
Insurance technical reserves-7147852 6633 5503 865
Other accounts receivables4 6782 420-1 2265 8387 983
ASSETS TOTAL7 28115 84015 44617 23127 528
of which receivables from foreign countries-27419-150-207-376
 
Liabilities
Short term bonds7 27012 122-4 3827 16614 178
Long term bonds-2 1915 05316 85614 0968 211
Loans23 4678 96121 90414 90814 102
Other accounts payable6 5061 697-2 691-5737 373
LIABILITIES TOTAL35 05227 83331 68735 59743 864
of which is liabilities to foreign countries-1512 1883 1789711 593
 
Net lending-27 771-11 993-16 241-18 366-16 336
 
Other change
20112012201320142015
Assets
Currency and deposits971688
Short term bonds181 767000
Long term bonds425-4 23290160-114
Loans receivable-22 680000
Shares and other equity-9684 1231 4461 3464 775
of which shares-6372 932-1294691 205
of which capital contribution07727543203 308
Insurance technical reserves11 8434 93412 5825 9923 216
Other accounts receivables-76-34-77-75-133
ASSETS TOTAL11 2499 30914 0477 4317 752
of which receivables from foreign countries546610981294
 
Liabilities
Short term bonds125-11 6751867452
Long term bonds1 10356892901-697
Loans014 081-131
Other accounts payable-4 182-1 188-44-100-95
LIABILITIES TOTAL-2 9541 786233878-739
of which is liabilities to foreign countries152-6718355-94
 
Net revaluations14 2037 52313 8146 5538 491

Source: Statistics Norway

Table 4 
General government gross debt (Maastricht debt). Nominal values. Million NOK and percentage of GDP

General government gross debt (Maastricht debt). Nominal values. Million NOK and percentage of GDP
General government gross debtPercentage of GDP
2003670 46241.4
2004758 83942.6
2005820 60141.3
20061 150 89652.0
20071 151 96949.0
20081 218 27046.8
20091 009 71941.6
20101 078 82541.7
2011767 20027.5
2012863 75329.1
2013913 52329.7
2014861 99927.4
2015997 01632.0

Source: Statistics Norway

About the statistics

The statistics provides information on financial assets and liabilities in the central and local government sectors. It includes assets and liabilities classified by financial object and figures for general government gross debt as defined by the Maastricht criteria.

Definitions

Definitions of the main concepts and variables

Total financial assets: Total financial assets at market value, consolidated.

Total liabilities: Total liabilities at market value, consolidated.

Net financial assets: Total financial assets - total liabilities.

Net revaluations: Other changes in volume plus revaluations due to changes in market prices of financial instruments.

Change in net financial assets: Net financial assets year (t) minus net financial assets year (t-1). This equals net borrowing/lending (t) + net revaluations (t)

Net borrowing/lending in financial accounts: Net acquisition of financial assets - net incurrence of liabilities

General government gross debt according to the Maastricht definition: Gross liabilities in the form of deposits, certificates, commercial papers and Treasury bills, bonds, and loans, at nominal value and consolidated (i.e. minus debt between units within general government). This figure is used for comparisons between the EU countries.

Standard classifications

Financial instrument: Financial assets and liabilities are classified by main type, aiming at having relatively uniform groups. The classification is based on the international guidelines for National Accounts.

Debtor/creditor sector: Financial assets and liabilities are classified according to which financial sector in the economy the individual debtor or creditor belongs to. Classification is based on international guidelines.

In addition central and local government are classified by institutional sub-sectors.

Administrative information

Name and topic

Name: General government, financial assets and liabilities
Topic: Public sector

Responsible division

Division for Public Finance

Regional level

National level only

Frequency and timeliness

Quarterly

International reporting

Eurostat og International Monetary Fund (IMF).

Microdata

The microdata are stored in SAS and Oracle databases, and the disseminated data are stored in the FAME database.

Background

Background and purpose

The purpose is to offer comparable time series over a long period of time for the general government's financial assets and liabilities based on the international guidelines for financial accounts.

General government financial assets and liabilities is publised in a new format from 2009 with comparable figures from 1995 to the present. The statistics is based on the database system Finse, a system for the compilation of financial transactions, assets and liabilities by institutional sectors.

Users and applications

The statistics is used in the National Accounts. Other important users are the Ministry of Finance, the Central Bank of Norway, research institutions and mass media.

Equal treatment of users

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 8 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar. This is one of Statistics Norway’s key principles for ensuring that all users are treated equally.

Coherence with other statistics

The statistics are based on the guidelines for financial accounts in the international National Accounts standards: System of National Accounts (the UN et al.) and the European System of Accounts (the EU), plus the IMF's A Manual on Government Finance Statistics.

General government revenue and expenditure is disseminated the same way and based on the same international guidelines as General government financial assets and liabilities.

The statistics are included in the Financial accounts, which again is part of the National Accounts.

Legal authority

The Statistics Act, § 2-2

EEA reference

Council Regulation 2223/96. Also Council Regulations 3056/93 and 475/2000, which are not EEA relevant, but connected to the Economic and Monetary Union.

Production

Population

The population comprises all state, municipal and county municipal administrative bodies limited according to the National Accounts regulations for general government. Public corporations and unincorporated public enterprises (financial or non-financial) are not included. The basic sources are the central government's fiscal account, the individual accounts for municipalities and county municipalities, and accounts for other state, municipal and county municipal units (e.g. funds) that are considered part of general government. Counterpart information is also extensively used to give a realistic view of General government's financial situation. In practice there may be gaps due to lack of an overview of the population.

Data sources and sampling

Financial accounts are mainly based on quarterly accounting statistics for financial corporations and mutual funds, quarterly balance of payments data and quarterly data from the Norwegian Central Securities Depository (VPS). The compilations are also based on annual accounting statistics for general government and different types of register-statistics. For areas with incomplete statistical coverage, it is necessary to rely on estimations, judgements and supplementary sources such as statistics for paid and assessed taxes and tax return statistics for individual taxpayers.

Collection of data, editing and estimations

The financial accounts are based on source statistics collected by various divisions in Statistics Norway.

The compilation process comprises a long list of reconciliation procedures and consistency checks, which also contributes to the quality assurance of the different statistical sources.

The source statistics may have to be adjusted in order to fulfil the requirements of the financial accounts; first source data have to be adapted to financial accounts data structure; source data are then balanced in the database system. In cases where we have two or more data sources for the same asset relationship, one data serie is selected according to predetermined rules. The most important choice is between creditor and debtor information. Discrepancies occur when there are differences in information given from the creditor and debtor respectively.

Discrepancies can be explained by different definitions or different estimations of value, but can also occur due to errors and shortcomings in the statistical sources. In cases where errors are revealed, this is reported to the division responsible for the compilation of the statistics in question.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

The Finse database provides comparable quarterly figures over time from 1995.

Accuracy and reliability

Sources of error and uncertainty

The financial accounts are compiled using different statistical sources. The uncertainty in the financial accounts figures is related to the uncertainty in source data and the compilation methods. Since the database system is an integrated system containing many routines for balancing and consistency checks of data, one could assume that the financial accounts help reduce some of the uncertainty in the source data. On the other hand, the financial accounts require compilation of figures in areas where source statistics are very limited or even lacking. The uncertainty can be substantial in these areas.

 

Revision

In FINSE the figures are revised, as new information becomes available. In order to avoid breaks in the timeseries, new data sources are incorporated in previously published years.

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Analyses, articles and publications

Definitions in government finance statistics

Definitions in government finance statistics

Published 6 January 2016Read this article

Statistics