Government net lending/borrowing in Norway

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 10.2% 2027: 8.3% 2028: 7.6% 2029: 7.2% 2030: 6.8% 2031: 6.3%

5.8 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	5.8
Jan 1998	3.1
Jan 1997	7.4
Jan 1996	6.0
Jan 1995	3.0
Jan 1994	0.0
Jan 1993	-1.7
Jan 1992	-2.1
Jan 1991	-0.1
Jan 1990	2.0

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Norway's government budget balance is the balance of the general government accounts; in its case a large surplus is typically recorded, thanks to oil and gas revenue. Published by Statistics Norway, it is usually expressed as a percentage of GDP.

How it's calculated

It is measured as general government net lending or borrowing, including the petroleum revenue that feeds the sovereign wealth fund (GPFG), and scaled against GDP to obtain the ratio. The figures are annual.

Market implications

Norway's fiscal balance reflects the exceptional strength of its public finances. Rather than the headline, markets watch the non-oil deficit and the 3% fiscal rule on the fund, which cap how much the state can spend without eroding its petroleum wealth.

Limitations

It is a low-frequency figure subject to revision. The headline is heavily flattered by oil revenue, so the meaningful gauge is the structural non-oil balance; the overall balance is highly sensitive to energy prices.