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220309
Reduced government revenue
statistikk
2015-06-09T10:00:00.000Z
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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Total revenue in the central government’s fiscal account has decreased by NOK 13 billion from the first quarter of 2014 to the first quarter of 2015

Central government revenue and expenditure, Q1 2015

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Reduced government revenue

Total revenue in the central government’s fiscal account has decreased by NOK 13 billion from the first quarter of 2014 to the first quarter of 2015. The decrease is due to lower income from petroleum.

Central government fiscal account including National Insurance Scheme. Quarter. NOK million.Published 9 June 2015
1st quarter 20141st quarter 2015Change in per cent
A. TOTAL REVENUE336 043323 087-3.9
Operating surplus extraction of petroleum40 37929 885-26.0
Tax revenue188 313177 894-5.5
Members' and employers' contribution to the National Insurance Scheme88 54993 0845.1
Interest and dividends5 3458 13552.2
Other revenue13 45714 0894.7
 
B. TOTAL EXPENDITURE276 959303 3149.5
Operating costs32 88033 9773.3
Total fixed capital formation15 24614 546-4.6
Total transfers228 833254 79111.3
 
C. SURPLUS BEFORE NET TRANSFERS TO THE GOVERNMENT PENSION FUND - GLOBAL59 08419 773

Source: Statistics Norway

Total revenue was NOK 323 billion in the first quarter of 2015. This is a decrease from NOK 336 billion in the first quarter of 2014. Total expenditure has increased by NOK 26 billion in the same period. The surplus before net transfers to the Government Pension Fund Global was NOK 20 billion. This is a decrease of NOK 39 billion from the first quarter of last year.

The decrease in total revenue is mainly due to lower income from petroleum activities. Oil prices and activity in the petroleum sector affect government revenue both through the State’s Direct Financial Interest (SDFI) and through taxes on petroleum extraction. Since the first quarter of last year, the operating surplus of SDFI has decreased by NOK 10 billion. Reduced payments on petroleum taxes have also led to a decrease in total taxes of NOK 10 billion. The decrease in total revenue has been mitigated by an increase in contributions to the National Insurance Scheme of NOK 4.5 billion and an increase in income from interest and dividends of NOK 2.7 billion from the first quarter of last year.

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