Increase in government expenditure
Total expenditure in the central government’s fiscal account for the third quarter was NOK 271 billion. This is NOK 15 billion more than in the third quarter of 2014.
|3rd quarter 2014||3rd quarter 2015||Change in per cent|
|A. TOTAL REVENUE||286 621||286 731||0.0|
|Operating surplus extraction of petroleum||21 356||17 251||-19.2|
|Tax revenue||150 121||144 816||-3.5|
|Members' and employers' contribution to the National Insurance Scheme||90 972||96 092||5.6|
|Interest and dividends||10 951||15 257||39.3|
|Other revenue||13 221||13 315||0.7|
|B. TOTAL EXPENDITURE||255 747||270 616||5.8|
|Operating costs||35 512||37 347||5.2|
|Total fixed capital formation||18 509||17 527||-5.3|
|Total transfers||201 726||215 742||6.9|
|C. SURPLUS BEFORE NET TRANSFERS TO THE GOVERNMENT PENSION FUND - GLOBAL||30 874||16 115|
Transfers account for most of the expenditure in the third quarter with a sum of NOK 216 billion. This is an increase of NOK 14 billion from the third quarter of last year. Central government operating costs were NOK 37 billion and total fixed capital formation was NOK 18 billion in the third quarter. Wages and salaries account for NOK 18 billion of the total operating costs and purchases of goods, and services account for NOK 11 billion. Operating costs have increased by NOK 2 billion, or 5.2 per cent, from the third quarter of 2014. Fixed capital formation has decreased by NOK 1 billion due to lower investments in the petroleum sector.
Total revenue was NOK 287 billion in the third quarter and this is about the same level as in the third quarter of 2014. Sales revenue and income from the extraction of petroleum has decreased by a total of NOK 4 billion. Transfers to the central government have increased by the same amount. The increase is due to higher payments to the National Insurance Scheme and increased income form interest and dividends. Tax revenue has decreased by NOK 5 billion from the third quarter of last year.
The quarterly figures are subject to random fluctuations, and must be interpreted with caution.
A time series for the net cash flow from petroleum activities is now available in StatBank (Table 11013).