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The oil and gas industries play a dominant role in the Norwegian economy, providing a source of finance for the Norwegian welfare state through direct ownership of oil fields, dividends from its shares in Equinor, and licensure fees and taxes. The oil and gas industry is Norway's largest in terms of government revenue and value-added.
In Norway, most public sector employees worked within local government as of 2023, with a total of 574,498 employees, while the central government employed 328,959 individuals. [ 17 ] In terms of salaries, the central government sector in Norway offered the highest average monthly pay in 2022, with men earning 61,370 Norwegian kroner and women ...
Despite this however, Sweden still has the highest government spending-to-GDP ratio of all the Nordic countries, it retains national-level sectoral bargaining unlike Denmark and Iceland, with over 650 national-level bargaining agreements, [45] it retains the Ghent system unlike Norway and Iceland and consequently has the second-highest rate of ...
The Government Pension Fund Norway is smaller and was established in 1967 as a type of national insurance fund. It is managed separately from the Oil Fund and is limited to domestic and Nordic investments and is therefore a key stock holder in many large Norwegian companies, predominantly via the Oslo Stock Exchange .
The Norwegian economy is an example of a mixed economy; a prosperous capitalist welfare state, it features a combination of free market activity and large state ownership in certain key sectors, influenced by both liberal governments from the late 19th century and later by social democratic governments in the postwar era.
During the German occupation of Norway during World War II there were four cabinets, that ruled as part of Josef Terbovens administration of Norway. These Governments were the de facto ruling body of Norway during the war, though the Cabinet Nygaardsvold still held the de jure office, in exile in London, United Kingdom.
The Government agencies of Norway are state-controlled organizations that act independently to carry out the policies of the Government of Norway.The government ministries are relatively small and merely policy-making organizations, allowed to control agencies by policy decisions but not by direct orders.
Central government Local government Regional government In total; Individual taxpayers: 218.5 115.9 22.2 356.7 Tax on ordinary income 104.5 107.4 22.2 234.2 Surtax 19.0 - - 19.0 Employee's and self-employed's social security contributions 90.2 - - 90.2 Tax on net wealth 4.8 8.5 - 13.3 Businesses (whose taxes are payable the year after the ...