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230672
General government surplus halved
statistikk
2017-02-24T08:00:00.000Z
Public sector;Public sector
en
offinnut, General government revenue and expenditure, central government, local government, taxes, duties, national insurance contributions, pension premiums, revenue by type (for example fines, fees, tolls), expenditure by type (for example disability pension, child benefit, subsidies), expenditure by function (for example health care, environmental protection, culture), public deficit, municipal accounts, municipal economy, municipal finances, net financial investments.Local government finances , General government , Central government finances , Public sector
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Government revenue and expenditure. Taxes, petroleum revenue, social benefits, public road and railway investments. General government surplus is almost halved from 2015 to 2016.

General government revenue and expenditure, 2016

Variants of the statistics:

The statistics describe government revenue and expenditure. Together with financial assets and liabilities, they give a comprehensive overview of the sector’s finances.

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General government surplus halved

General government surplus is estimated at NOK 97 billion in 2016. This just over half of the 2015 surplus, and is mainly due to a decline in petroleum revenues.

General government. Revenue, expenditure and net lending/borrowing. Accrued values. NOK millionPublished 24 February 2017
20122013201420152016
General government revenue1 664 6771 662 5781 693 3511 684 1971 661 979
General government expenditure1 254 1271 331 2461 418 0711 497 5401 564 586
Net lending/borrowing (-)410 551331 332275 280186 65797 394
 
Central government net lending/borrowing427 676354 512298 453199 915110 496
Local government net lending/borrowing-17 126-23 180-23 173-13 259-13 102

Source: Statistics Norway

The decline in general government surplus is mainly due to a decrease in government revenues from petroleum extraction. In 2016, the petroleum revenues were NOK 125 billion, which is NOK 60 billion less than in 2015. Petroleum revenues have been on a sharp decline since 2013, and the level of revenues in 2016 is estimated to be the lowest since 1999. 

The central government’s surplus is estimated at NOK 110 billion in 2016, down from NOK 200 billion in 2015. It is estimated that local government had a deficit of NOK 13 billion, which is at the same level as last year. 

Revenues excluding petroleum

General government revenue is estimated at NOK 1662 billion in 2016. Revenues excluding petroleum totalled NOK 1 537 billion; an increase of NOK 38 billion from the previous year. The largest increase was in property income, which was NOK 16 billion higher than in 2015. Property income includes interest and dividends from the Government Pension Fund and government owned corporations, as well as transfers from the central bank. 

Moderate increase in expenditure

General government expenditure in 2106 is estimated at NOK 1565 billion. This is NOK 67 billion, or 5 per cent, higher than in 2015. In 2016, general government expenditure exceeded 50 per cent of GDP, which is the first time this has happened in 20 years. The increase in general government spending’s share of GDP is explained by a slight decline in GDP in the last few years, as well as an increase in public expenditure, measured in current prices. 

Wages and intermediate consumption in public services is estimated at NOK 669 billion in 2016; an increase of NOK 27 billion from the previous year. Out of total wages, about 30 per cent were in the health sector, while 20 per cent were in the educational sector. Transfers to households, which consist of pensions and a range of other benefits, amounted to NOK 552 billion. This is an increase of NOK 22 billion from 2015. 

General government investments in fixed assets is estimated at NOK 163 billion 2016, which is NOK 14 billion higher than in 2015. The central and local government spent NOK 96 billion and NOK 67 billion respectively. In the past few years, investments in fixed assets have increased more than other expenditure in general government. The largest investments are within road building, which is also the investment area with the strongest growth in recent years.

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The published figures are based on preliminary accounts for the central government, municipalities and county authorities. There is considerable uncertainty regarding these figures and they should be used with caution.