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253897
Decrease in government revenue
statistikk
2016-06-07T10:00:00.000Z
Public sector
en
statsregn, Central government revenue and expenditure, duties (for example duties on documents, inheritance tax, VAT), taxes (for example income tax, capital tax, tax to the central government), national budget, financing needs, central government's deficit and surplus, transfers to municipalities and county authorities, revenue from petroleumCentral government finances , Public sector
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The central government’s fiscal account for the first quarter of 2016 shows a decrease in revenue of NOK 15 billion. Expenditure has increased by NOK 5 billion.

Central government revenue and expenditure, Q1 2016

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Decrease in government revenue

The central government’s fiscal account for the first quarter of 2016 shows a decrease in revenue of NOK 15 billion. Expenditure has increased by NOK 5 billion.

Central government fiscal account. Quarter. NOK million.Published 7 June 2016
1st quarter 20151st quarter 2016Change in per cent
A. TOTAL REVENUE323 087308 310-4.6
Operating surplus extraction of petroleum29 88521 344-28.6
Tax revenue177 894169 618-4.7
Members' and employers' contribution to the National Insurance Scheme93 08493 9731.0
Interest and dividends8 1358 1770.5
Other revenue14 08915 1987.9
 
B. TOTAL EXPENDITURE303 314307 8751.5
Operating costs33 97737 51810.4
Total fixed capital formation14 54615 2414.8
Total transfers254 791255 1160.1
 
C. SURPLUS BEFORE NET TRANSFERS TO THE GOVERNMENT PENSION FUND - GLOBAL19 773435

Source: Statistics Norway

The central government’s total revenue was NOK 308 billion in the first quarter. Total expenditure was almost as high as revenue, and the surplus before net transfers to the Government Pension Fund Global was less than NOK 500 million.

The decrease in total revenue is mainly due to reduced income from petroleum taxes and reduced surplus from the State’s Direct Financial Interest in petroleum activities (SDFI). Tax revenue from petroleum has been reduced by NOK 12 billion, leading to a decrease of almost 5 per cent in total tax revenue from the first quarter of last year. At the same time, net cash flow from the SDFI has been reduced by about NOK 8 billion.

The increase in expenditure is mainly due to higher operating costs. These expenses have grown by NOK 3.5 billion, to NOK 38 billion in the first quarter of this year. Wages and salaries account for NOK 19 billion of this sum and NOK 11 billion was spent on goods and services. Transfers, which account for about 80 per cent of total expenditure in the first quarter, have increased by 0.1 per cent since the first quarter of 2015.

The quarterly figures are subject to random fluctuations, and must be interpreted with caution.