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Government spending figure worrying sign for Norway's economy

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Government spending figure worrying sign for Norway's economy
Government spending increased by nearly five percent in just one year. Photo: Berit Roald/NTB Scanpix
14:22 CET+01:00
For the first time in 20 years, Norway's government spending exceeds 50 percent of the nation's gross domestic product (GDP).
According to the latest figures from Statistics Norway, government expenditures on public administration cost 1.550 billion kroner between October 2015 and September 2016. 
 
Not only is it the first time in two decades that expenditures have accounted for more than half of Norway's GDP, the spending figures also mark an increase of 4.9 percent from the previous year.
 
“The strong increase can 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 the 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, the statistics bureau said.
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