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11186
Increased net financial assets
statistikk
2005-12-23T10:00:00.000Z
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, 2004

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Increased net financial assets

General government net financial assets at the end of 2004 amounted to NOK 1 509 billion, an increase of 15.2 per cent from 2003. At the end of 2004, general governments total financial assets had increased by 15.5 per cent and amounted to NOK 2 639 billion. Total liabilities had increased by 15.8 per cent and amounted to nearly NOK 1 131 billion.

The growth in general government net financial assets are primarily caused by increased financial assets in central government. This is a result of large allocations to the Government Petroleum Fund and high yields during the year. This is expressed through the increase in net financial assets in other central government accounts, which was approximately NOK 165 billion in 2004.

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

In addition, net financial assets in the central government fiscal accounts including the National Insurance Scheme increased from NOK 190.3 billion in 2003 to NOK 203.5 billion in 2004.

According to local government assets and liabilities, net financial debt increased by approximately NOK 18 billion, and amounted to NOK 57.6 billion in 2004. The deficit of more than NOK 10 billion in net lending was the main reason for this increase.

Gross public debt

The Maastricht Treaty definition is usually used in international comparisons of gross public debt. The definition does not include internal accounts payable and liabilities in general government. According to this delimitation, Norway's public debt was 46.6 per cent of gross domestic product (GDP) at the end of 2004. Average for the 15 EU member countries at the end of 2004 was 59.5 per cent, according to figures from the OECD.

General government. Financial balance sheet. Nominal
value. Billion kroner and change in per cent
  Billion kroner      Change in
per cent
       2003      2004
A. Financial assets total      2 285.4      2 639.3 15.5
Cash and deposits  215.0  185.3 -13.8
Commercial papers and bonds  535.5  687.8 28.4
Other loans  716.2  831.5 16.1
Capital deposits and shares  627.1  667.2 6.4
Other financial assets  189.9  265.9 40.0
       
B. Liabilities total  976.1 1 130.7 15.8
Commercial papers and Treasury bills 74.1 71.1 -4.0
Bonds  183.3  163.9 -10.6
Other loans  612.9  765.0 24.8
Other liabilities  105.5  130.4 23.6
       
C. Net financial assets(A-B) 1 309.3 1 508.6 -1
General gross debt  700.8  797.4 13.8
Per cent of GDP 44.4 46.6 -1
1  Corrected 11.01.2006.