264901
264901
Continued decrease in government revenue
statistikk
2016-09-06T10:00:00.000Z
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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Central government revenue and expenditureQ2 2016

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As from 23 September, all of Statistics Norway’s statistics will be released at 8 am.

Continued decrease in government revenue

The central government’s fiscal account for Q2 2016 shows a decrease in revenue of NOK 8 billion and an increase in expenditure of NOK 25 billion.

Central government fiscal account. Quarter. NOK million.
2nd quarter 20152nd quarter 2016Change in per cent
A. TOTAL REVENUE335 887328 044-2.3
Operating surplus extraction of petroleum24 73817 193-30.5
Tax revenue214 380196 599-8.3
Members' and employers' contribution to the National Insurance Scheme55 77258 5645.0
Interest and dividends17 82216 041-10.0
Other revenue23 17539 64771.1
 
B. TOTAL EXPENDITURE308 348332 9578.0
Operating costs41 33244 0806.6
Total fixed capital formation18 99019 0130.1
Total transfers248 026269 8648.8
 
C. SURPLUS BEFORE NET TRANSFERS TO THE GOVERNMENT PENSION FUND - GLOBAL27 539-4 913
Figure 1. Central government fiscal account. Last four quarters average

The central government’s total revenue amounted to NOK 328 billion in the second quarter of 2016, equal to a decrease of 2.3 per cent compared to Q2 2015. Total expenditure increased by 8 per cent from NOK 308 billion in Q2 2015 to NOK 333 billion. The fiscal account thus shows a deficit of almost NOK 5 billion in the second quarter of 2016.

Reduced income from petroleum taxes and reduced surplus from the State’s Direct Financial Interest in petroleum activities (SDFI) account largely for the continued decrease in total revenue in Q2 2016. Tax revenue from petroleum has halved from NOK 46 billion in the second quarter of 2015 to NOK 23 billion in Q2 2016. Total tax revenues have been reduced by 8.3 per cent.

The central government’s operating costs have increased by NOK 3 billion from NOK 41 billion in Q2 2015, equal to an increase of 6.7 per cent. Wages and salaries, which make up about half of these operating costs, increased by 5.1 per cent. Transfers, making up about 80 per cent of total expenditure, have increased by almost 9 per cent from NOK 248 billion. This increase is largely accounted for by “Other transfers”, including foreign aid transfers and transfers to public health enterprises. However, the figures under this item are inflated in Q2 2016 because of recording practice inconsistencies in the public health enterprises between 2015 and 2016.

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