Increase in government surplus
The central government’s fiscal account, including the National Insurance Scheme, shows revenue of NOK 336 billion and expenditure of NOK 278 billion in the first quarter of 2014. This gives an increase in the surplus before net transfers to the Government pension fund Global.
|1st quarter 2013||1st quarter 2014||Change in per cent|
|A. TOTAL REVENUE||325 174||336 043||3.3|
|Operating surplus extraction of petroleum||36 708||40 379||10.0|
|Tax revenue||186 170||188 313||1.2|
|Members' and employers' contribution to the National Insurance Scheme||84 876||88 549||4.3|
|Interest and dividends||4 115||5 345||29.9|
|Other revenue||13 305||13 457||1.1|
|B. TOTAL EXPENDITURE||271 435||276 959||2.0|
|Operating costs||34 693||32 880||-5.2|
|Total fixed capital formation||12 034||15 246||26.7|
|Total transfers||224 708||228 833||1.8|
|C. SURPLUS BEFORE NET TRANSFERS TO THE GOVERNMENT PENSION FUND - GLOBAL||53 739||59 084|
Since the first quarter of 2013, revenue has increased by almost NOK 11 billion, or 3.3 per cent. The main part of central government revenue, NOK 286 billion, consists of transfers. Taxes and contributions to the National Insurance Scheme (NIS) account for most of this sum. NOK 188 billion was paid in taxes to the central government in the first quarter. NOK 54 billion was paid in employer contributions and NOK 34 billion was paid in member contributions to the NIS. Total transfers have increased by NOK 8 billion, or 2.8 per cent, from the first quarter of 2013.
Central government expenditure increased by 2 per cent, from NOK 271 billion to NOK 277 billion from the first quarter of 2013 to the first quarter of 2014. Transfers also account for most of the expenditure, at NOK 229 billion. Of this, NOK 92 billion was paid in pensions and benefits through the NIS. NOK17 billion was transferred to other state accounts and NOK 55 billion was transferred to municipalities and county authorities.
The central government had operating expenses of NOK 33 billion in the first quarter. This is NOK 2 billion, or 5.5 per cent, less than in the first quarter of 2013. Wages and salaries account for NOK 17 billion and purchase of goods and services account for NOK 10 billion of this sum.
The quarterly figures are subject to random fluctuations, and must be interpreted with caution.