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11128
Surplus adjusted upwards by NOK 5.8 billion
statistikk
2008-11-26T10:00:00.000Z
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, 2007

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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Surplus adjusted upwards by NOK 5.8 billion

Since the last release of general government revenue and expenditure, several adjustments have been made. The surplus for 2007, measured by net lending/borrowing, is now estimated at NOK 402.5 billion, 5.8 billion higher than previously published figures.

Total revenue for general government in 2007 was NOK 1276.7 billion, while total expenditure constituted 874.3 billion. The upward adjustment of revenues by NOK 5.6 billion is mainly due to new calculations of current taxes on income and wealth excluding extraction of petroleum, which yields an increase of NOK 7.3 billion compared to the previous release.

The figures for 2006 have been through several revisions and are now final. Total revenue for general government is calculated to NOK 1219.7 billion, a downward adjustment of 1.6 billion compared to the previous release. Total expenditure for 2006 was NOK 820.6 billion, down by NOK 1.9 billion. The net effect of this final revision is therefore small, and for 2006 net lending/borrowing is calculated to be NOK 399.1 billion, an upward adjustment of 0.2 billion.

Unchanged net lending/borrowing in local government

The dominant revision in the figures for local government is related to Financial Intermediation Services Indirectly Measured (FISIM), which for both 2006 and 2007 are adjusted downwards with approximately NOK 2 billion. For 2006 there are no other adjustments of major significance. For 2007, new accounts for municipalities and non market municipal corporations are incorporated in the calculations. This has led to some revisions. Wages and salaries, and gross acquisitions of fixed capital, are both adjusted upwards by NOK 0.5 billion respectively. This effect is to a large extent counteracted by upward adjusted administrative fees and charges by 0.9 billion. Administrative fees and charges are classified as negative expenditure, but are in fact revenue for local government. The net effect of this round of revisions is therefore minor with regards to net lending/borrowing which constitutes NOK 0.7 billion for 2006 and NOK -12.1 billion for 2007.

Financial Intermediation Services Indirectly Measured (FISIM)

Financial Intermediation Services Indirectly Measured (FISIM) is a quantity estimated by Statistics Norway, and is included when calculating intermediate consumption. FISIM is an estimate on the value of the services bought from banks and other financial institutions, where payment is made through interest margins. Examples of such services are loans and deposits. Financial institutions also have other sources of revenue, including bank charges and commissions. In the statistics for general government fiscal account, revenue and expenditure, FISIM together with other goods and services bought constitute intermediate consumption.

A correction to neutralize any effect on net lending/borrowing caused by FISIM, can be found as part of property income. The revision of the 2006 and 2007 numbers are mainly due to new sources and a new calculation method. For more information on FISIM:

Concepts and definitions in national accounts