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11168
Dramatic growth in government surplus
statistikk
2001-05-03T10:00:00.000Z
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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General government revenue and expenditure, 1994-2000

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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Dramatic growth in government surplus

In 2000 the general government net financial surplus amounted to NOK 211 billion kroner. This corresponds to a 297 per cent increase from 1999, when net financial surplus was NOK 71 billion. The dramatic growth in government revenues is due to the high oil price. [The figures are corrected 19.06.2001]

Petroleum related revenues are provided to the general government both as operating profits from the states own petroleum activies and as government tax revenue.

Figure

Operating surplus

The operating surplus from the state petroleum activities has increased since 1994, except from 1998, when oil prices fell significantly. The operating surplus totalled NOK 95.4 billion in 2000. This is almost 3-times that of 1999, when operating profits amounted to NOK 32.5 billion.

Increased petroleum taxes

Along with the operating surplus, the government tax revenues are largely affected by the oil price. Recorded tax on income and wealth from extraction of petroleum amounted to NOK 54.8 billion in 2000. This corresponds to a 368 per cent increase from 1999, when petroleum taxes were NOK 11.7 billion. The fact that petroleum taxes are paid in arrears will, in times with increasing oil price, imply that accrued taxes are higher than those recorded.

Reduced deficit in local government

Preliminary figures from the local government shows a NOK 7.3 billion deficit before financial transactions. The local government deficit has improved by 25 per cent since 1999 when local government net borrowing amounted to NOK 9.7 billion.

General government, key figures income and
expenditures, 1999-2000. The figures are corrected 19.06.2001.
  Billion kroner Percentage change
  1999 2000
1. Total revenue 618,9 792,2 28,0
1.1Property income 51,4 59,6 16,0
1.2 Taxes 520,5 616,0 18,3
1.3 Other current transfers 42,1 111,4 164,6
1.4 Other income 4,9 5,2 6,1
       
2. Total outlays 547,8 580,9 6,0
2.1 Property expenditure 24,8 32,2 29,8
2.2 Transfers to the private sector 235,2 246,2 4,7
2.3 Other current transfers 8,1 9,9 22,2
2.4 Final consumption expenditure 253,7 269,9 6,4
2.5 Capital expenditure 26,0 22,7 -12,7
       
3. Net lending/borrowing 71,1 211,3 197,2