Norway recorded a Government Budget surplus equal to 6.40 percent of the country's Gross Domestic Product in 2019. source: Statistics Norway

Government Budget in Norway averaged 9.86 percent of GDP from 1995 until 2019, reaching an all time high of 18.60 percent of GDP in 2008 and a record low of 3.10 percent of GDP in 1995. This page provides - Norway Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Government Budget - values, historical data and charts - was last updated on December of 2020.

Government Budget in Norway is expected to reach 1.00 percent of GDP by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Government Budget is projected to trend around 2.50 percent of GDP in 2021 and 4.50 percent of GDP in 2022, according to our econometric models.

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Norway Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
6.40 7.80 18.60 3.10 1995 - 2019 percent of GDP Yearly

Norway Government Last Previous Highest Lowest Unit
Government Debt to GDP 40.60 39.40 53.70 28.70 percent [+]
Government Budget 6.40 7.80 18.60 3.10 percent of GDP [+]
Government Budget Value -58321.00 -114258.00 198910.00 -114258.00 NOK Million [+]
Government Spending 214614.00 208440.00 214614.00 72314.00 NOK Million [+]
Government Spending to GDP 51.80 49.20 55.80 40.60 percent [+]
Government Revenues 302533.00 297964.00 404678.00 50596.00 NOK Million [+]
Government Debt 743263.00 634724.00 743263.00 8631.00 NOK Million [+]
Fiscal Expenditure 360854.00 412222.00 412222.00 74482.00 NOK Million [+]
Credit Rating 100.00 [+]
Military Expenditure 6824.00 6466.00 6824.00 857.00 USD Million [+]
Asylum Applications 130.00 200.00 8570.00 30.00 persons [+]


Norway Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.