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11194
Improved net financial assets
statistikk
2002-02-12T10:00:00.000Z
Public sector;Public sector
en
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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General government, financial assets and liabilities, 2000

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Improved net financial assets

Net financial assets in general government at the end of 2000 came to NOK 8831 billion, a rise of NOK 2331 billion, or 36 per cent, from 1999. General governments total financial assets increased with nearly 33 per cent from 1999, and amounted to NOK 1 535 billion at the end of 2000.

The growth in general government net financial assets is primarily caused by increased financial assets in central government. This is partly a result of large allocations to the Government Petroleum Fund and partly because the Fund enjoyed high yields during the year. This is expressed through the increase in net financial assets in other central government accounts, which in 2000 rose by NOK 173.4 billion.

In addition to the increase in net financial assets in other central governments accounts, net financial assets in the central government fiscal accounts including National Insurance Scheme increased by NOK 11.61 billion.

For local government there is a positive change in net financial assets despite the high deficit before financial transactions.

Between 1999 and 2000, there was a considerable increase in the total liabilities of NOK 1451 billion. The Government Petroleum Fund entering repurchase agreements due to securities mainly causes this increase.

Gross public debt

The Maastricht Treaty definition is usually used in international comparisons of gross public debt. The definition includes neither other account payable nor internal liabilities in general government. According to this delimitation, Norway's public debt is 31 per cent of gross domestic product (GDP) at the end of 2000. This is the second lowest in the EU after Luxembourg, whose gross dept is only about 6 per cent of GDP. Average for the 15 EU Member Countries at 31 December 2000 was 60.8 per cent.

General gross debt in per cent of GDP, Norway and EU

Since 1993 the average gross debt has fallen relative to GDP in the European Economic Area (EEA). This trend was particularly obvious for Norway, whose gross dept has been reduced over a period: From 40.8 per cent of GDP in 1993 to 26.8 per cent of GDP in 1998. In 2000, the public dept has risen to 31 per cent of GDP.

1  Figures are corrected 12.2.2002 at 1030 a.m.
General government. Financial balance sheet. Nominal value.
Billion kroner and change in per cent
  Billion kroner Change in per cent
  1999 2000
A. Financial assets total    1 156,2      1 535,1 32,8
Cash and deposits 128,3 194,4 51,5
Commercial papers and bonds 181,2 293,9 62,2
Other loans 344,1 422,4 22,8
Capital deposits and shares 356,7 431,2 20,9
Other financial assets 143,8 191,3 33,0
       
B. Liabilities, total 506,4 651,81 28,71
Commercial papers and Treasury bills 42,1 36,6 -13,1
Bonds 156,5 176,11 12,51
Other loans 239,4 349,2 45,9
Other liabilities 68,4 89,91 31,41
       
C. Net financial assets (A-B) 649,8 883,31 -2
General gross debt 330,8 440,51 33,21
Per cent of GDP 27,9 31,0 -2
1  Figures are corrected 12.2.2002 at 1030 a.m.
2  Corrected 11.01.2006.