This is an archived release.
Government surplus of NOK 63 billion
The central government’s fiscal account, including the National Insurance Scheme, had a surplus of NOK 63 billion in the 3rd quarter of 2012.
Total revenue for the third quarter of 2012 was NOK 287.4 billion. This is an increase of NOK 7.5 billion from the third quarter of 2011. Transfers account for most of the revenue, in the sum of NOK 247.3 billion. NOK 159.2 billion of this sum was paid in taxes. Members and employers’ contributions to the National Insurance Scheme amount to NOK 32.2 billion and NOK 48.5 billion respectively. The operating surplus from extraction of petroleum also accounts for a considerable part of the central government’s total revenue in the third quarter of 2012, with a total sum of NOK 31 billion.
While revenue has grown, expenditure has decreased by 2.2 per cent from the 3rd quarter of 2011 to a total of NOK 224.4 billion. Transfers account for a big share of total expenditure, with a sum of NOK 177.9 billion in the 3rd quarter. NOK 87.4 billion of this sum was paid in pensions and benefits through the National Insurance Scheme and NOK 39.8 billion was transferred to municipalities and county authorities. Transfers to other state accounts amount to NOK 11.9 billion. Besides transfers, the central government had operating expenses of NOK 34 billion in the 3rd quarter of 2012. NOK 18.5 billion of this sum was paid in wages and salaries and the purchase of goods and services amounted to NOK 8.8 billion. Total fixed capital formation was NOK 12.5 billion in the 3rd quarter.
Taxes, members and employers’ contributions to the National Insurance Scheme, and VAT collected by the Norwegian Tax Administration will, as of the third quarter in 2011, be entered as income in the central government’s fiscal account in the same month as in the agency’s own accounting system. Previously, there was a one-month lag in the central government’s fiscal account. Because of this, the figures for the third quarter of 2011 are not directly comparable to figures for earlier quarters.
The quarterly figures are generally subject to random fluctuations, and must be interpreted with caution.