Government spending exceeds 50 percent of GDP

Norwegian kronerNorwegian kroner.Photo: pixabay.com

For the first time in 20 years, the total general government expenditure in the past year accounted for over 50 percent of Norway’s GDP.

According to the latest figures from Statistics Norway the amount of expenditure on public administration was 1.550 billion NOK from October last year to September this year which has been increased by 4.9 percent from the previous year.

– The strong growth could be explained by the fact that government spending has increased, while GDP has declined slightly in recent years, measured in current prices.

In the public sector, it is particularly expenditure on investments, including roads and railways, which have contributed to growth in spending, according to Statistics Norway.

If oil and gas are excluded and one looks only at the so-called mainland GDP, the spending growth was more moderate.

 

Source: NTB scanpix / Norway Today

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