×
Norway

Norway Government deficits and debt Stats

Definitions

  • Government debt > General government gross financial liabilities: For most countries, gross financial liabilities refer to the liabilities (short and long-term) of all the institutions in the general government sector, as defined in the 1993 System of National Accounts (SNA) or in the 1995 European System of Accounts (ESA). This definition differs from the definition of debt applied under the Maastricht Treaty essentially in two respects. First, gross debt according to the Maastricht definition excludes trade credits and advances, as well as shares and insurance technical reserves. Second, government bonds are valued at nominal values instead of at market value or issue price plus accrued interest as required by the SNA rules. The United States and Canada also value government bonds at nominal value.

    In principle, debts within and between different levels of government are consolidated; a loan from one level of government to another represents both an asset and an equal liability for the government as a whole and so it cancels out (is "consolidated”) for the general government sector.
  • Government debt > General government gross financial liabilities per million: For most countries, gross financial liabilities refer to the liabilities (short and long-term) of all the institutions in the general government sector, as defined in the 1993 System of National Accounts (SNA) or in the 1995 European System of Accounts (ESA). This definition differs from the definition of debt applied under the Maastricht Treaty essentially in two respects. First, gross debt according to the Maastricht definition excludes trade credits and advances, as well as shares and insurance technical reserves. Second, government bonds are valued at nominal values instead of at market value or issue price plus accrued interest as required by the SNA rules. The United States and Canada also value government bonds at nominal value.

    In principle, debts within and between different levels of government are consolidated; a loan from one level of government to another represents both an asset and an equal liability for the government as a whole and so it cancels out (is "consolidated”) for the general government sector. Figures expressed per million population for the same year.
  • Government deficits > Government net borrowing/net lending: The net borrowing/net lending of the general government is the balancing item of the non-financial accounts (according to the 1993 System of National Accounts). It is also equal to the difference between total revenue and total expenditure, including capital expenditure (in particular, gross fixed capital formation). The main revenue of general government consists of tax, social contributions, dividends and other property income. The main expenditure items consist of the compensation of civil servants, social benefits, interest on the public debt, subsidies and gross fixed capital formation. A negative figure indicates a deficit.

    The data in the table are on a national accounts basis and may differ from the numbers reported to the European Commission under the excessive deficit procedure (EDP) for some EU countries and for some years.
  • Government deficits > Government net borrowing/net lending per million: The net borrowing/net lending of the general government is the balancing item of the non-financial accounts (according to the 1993 System of National Accounts). It is also equal to the difference between total revenue and total expenditure, including capital expenditure (in particular, gross fixed capital formation). The main revenue of general government consists of tax, social contributions, dividends and other property income. The main expenditure items consist of the compensation of civil servants, social benefits, interest on the public debt, subsidies and gross fixed capital formation. A negative figure indicates a deficit.

    The data in the table are on a national accounts basis and may differ from the numbers reported to the European Commission under the excessive deficit procedure (EDP) for some EU countries and for some years. Figures expressed per million population for the same year.
STAT AMOUNT DATE RANK
Government debt > General government gross financial liabilities 57.92% 1995 12th out of 28
Government debt > General government gross financial liabilities per million 13.29% 1995 3rd out of 28
Government deficits > Government net borrowing/net lending 17.42% 1993 1st out of 28
Government deficits > Government net borrowing/net lending per million 4.04% 1993 3rd out of 28

SOURCES: OECD Country statistical profiles 2009; OECD Country statistical profiles 2009. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.

Citation

"Norway Government deficits and debt Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Norway/Economy/Government-deficits-and-debt