The Royal Norwegian Ministry of Finance (Norwegian: Finansdepartementet) is a Norwegian ministry established in 1814. The ministry is responsible for state finance, including the state budget, taxation and economic policy in Norway. It is led by Siv Jensen (Progress Party). The department must report to the Parliament of Norway.
Norwegian is a North Germanic language spoken mainly in Norway, where it is the official language. Along with Swedish and Danish, Norwegian forms a dialect continuum of more or less mutually intelligible local and regional varieties, and some Norwegian and Swedish dialects, in particular, are very close. These Scandinavian languages, together with Faroese and Icelandic as well as some extinct languages, constitute the North Germanic languages. Faroese and Icelandic are hardly mutually intelligible with Norwegian in their spoken form because continental Scandinavian has diverged from them. While the two Germanic languages with the greatest numbers of speakers, English and German, have close similarities with Norwegian, neither is mutually intelligible with it. Norwegian is a descendant of Old Norse, the common language of the Germanic peoples living in Scandinavia during the Viking Era.
Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe whose territory comprises the western and northernmost portion of the Scandinavian Peninsula; the remote island of Jan Mayen and the archipelago of Svalbard are also part of the Kingdom of Norway. The Antarctic Peter I Island and the sub-Antarctic Bouvet Island are dependent territories and thus not considered part of the kingdom. Norway also lays claim to a section of Antarctica known as Queen Maud Land.
A ministry is a governmental organisation, headed by a minister, that is meant to manage a specific sector of public administration. Governments may have differing numbers and types of ministries, but the Brockhaus and Efron Encyclopedic Dictionary notes that all states have a Ministry of Interior, a Ministry of Foreign Affairs, a Ministry of Defense, a Ministry of Justice and a Ministry of Finance. A Ministry of Education or similar is also commonly present.
The ministry is divided into the following sections:
The following government agencies are subordinate to the ministry:
A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types. Although usage differs, a government agency is normally distinct both from a department or ministry, and other types of public body established by government. The functions of an agency are normally executive in character, since different types of organizations are most often constituted in an advisory role—this distinction is often blurred in practice however.
Norges Bank / Noregs Bank is the central bank of Norway. Apart from having traditional central bank responsibilities such as financial stability and price stability, it manages The Government Pension Fund of Norway, a stabilization fund that may be the world's largest sovereign wealth fund. The limited transparency of some SWFs makes it difficult to make accurate assessments of their assets under management.
The Norwegian National Collection Agency is a Norwegian government agency responsible for the collection of all fines issued by the police as well as debt collection from defaulted government taxes or other government debts. The agency was founded in 1990 and is located in Mo i Rana. From 2015 Statens innkrevingssentral was included in The Norwegian Tax Administration.
The Norwegian Tax Administration is a government agency responsible for resident registration and tax collection in Norway. The agency is subordinate to the Ministry of Finance and is based at Helsfyr in Oslo. It is organized in five regional organizations, based in Oslo, Skien, Bergen, Trondheim and Tromsø, in addition to local tax offices.
The ministry also owns 19.1% of the Nordic Investment Bank
The Nordic Investment Bank (NIB) is an international financial institution founded in the mid-1970s by the five Nordic countries: Denmark (incl. Faroe Islands, Greenland), Finland (incl. Åland Islands), Iceland, Norway and Sweden. In 2005, Estonia, Latvia and Lithuania became members of the Bank. NIB’s headquarters are located in Helsinki, Finland. NIB acquires the funds for its lending by borrowing on the international capital markets.
A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. It may also be a junior minister in the finance department, the British Treasury, for example has four junior ministers.
The Ministry of Finance of the People's Republic of China is the cabinet-level executive department of the State Council which administers macroeconomic policies and the national annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state.
The Treasurer of Australia is the minister in the Government of Australia responsible for government expenditure and revenue raising. The Treasurer plays a key role in the economic policy of the government. The current holder of the position is Josh Frydenberg, whose term began on 24 August 2018.
The Federal Ministry of Finance, abbreviated BMF, is the cabinet-level finance ministry of Germany, with its seat at the Detlev-Rohwedder-Haus in Berlin and a secondary office in Bonn. The current Federal Minister of Finance is Olaf Scholz (SPD).
The Ministry of Economy and Finance oversees the financial policies of the South Korean government. It publishes a monthly report on the national economy, known as the "Green Book." The current minister is Hong Nam-ki. The headquarters is in the Sejong Government Complex in Sejong City.
The Philippines' Department of Finance (DOF) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public sector debt, and the rationalization, privatization and public accountability of corporations and assets owned, controlled or acquired by the government.
The Israeli Ministry of Finance is the main economic ministry of the Government of Israel. It is responsible for planning and implementing the Government's overall economic policy, as well as setting targets for fiscal policy, preparing the draft State Budget and monitoring implementation of the approved budget. The ministry also manages state revenues, collects direct and indirect taxes and promotes nonresident investments. In addition, the ministry conducts economic relations with foreign governments, economic organizations and the international community. The ministry regulates the state owned companies sector and the capital market, savings and insurance. The ministry is also responsible for auxiliary units for government ministries in motor vehicles, computer services, printing and government procurement.
The Ministry of Finance is the Dutch Ministry responsible for Economic policy, Monetary policy, Fiscal policy, Tax policy, Incomes policy, Regulations, Government budget and the Financial market. The Ministry was created in 1798 as the Department of Finance of the Batavian Republic. In 1876, it became the Ministry of Finance. The Minister of Finance is the head of the Ministry and a member of the Cabinet of the Netherlands. The current Minister is Wopke Hoekstra.
The Ministry of Finance is a Swedish government ministry responsible for matters relating to economic policy, the central government budget, taxes, banking, security and insurance, international economic work, central, regional and local government.
The Ministry of Finance is an important ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.
The Ministry of Finance of the Union of Soviet Socialist Republics (USSR), formed on 15 March 1946, was one of the most important government offices in the Soviet Union. Until 1946 it was known as the People's Commissariat for Finance. Narkomfin, at the all-Union level, was established on 6 July 1923 after the signing of the Treaty on the Creation of the USSR, and was based upon the People's Commissariat for Finance of the Russian Soviet Federative Socialist Republic (RSFSR) formed in 1917. The Ministry was led by the Minister of Finance, prior to 1946 a Commissar, who was nominated by the Chairman of the Council of Ministers and then confirmed by the Presidium of the Supreme Soviet. The minister was a member of the Council of Ministers.
The Ministry of Finance, Planning and Economic Development (MoFPED) is a cabinet-level government ministry of Uganda. Its mandate is to formulate sound economic and fiscal policies, mobilize resources for the implementation of government programmes, disburse public resources as appropriated by Parliament, and account for their use in accordance with national laws and international best practices. The cabinet minister of finance is Matia Kasaija. MoFPED was created by the 1995 Constitution of Uganda and derives its power from the Constitution and related acts of parliament, including the 2001 Budget Act and the 2003 Public Finance and Accountability Act.
The Ministry of Finance of Azerbaijan Republic is a governmental agency within the Cabinet of Azerbaijan in charge of regulating the financial sector in Azerbaijan Republic. The ministry is headed by Samir Sharifov.
The Ministry of Finance of Ukraine is a central executive agency in Ukraine charged with developing and implementing national financial and budget policies, and with defining national policies in customs and taxation. The ministry is responsible for ensuring that the state has enough resources to perform its functions and that financial policies promote economic growth.
The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Malaysia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the Malaysian federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Malaysian federal budget to the Parliament.
The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Somalia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Somali federal budget to the Parliament.
The Ministry of Finance (MOF) of Saudi Arabia is the principal body for controlling state expenditure in Saudi Arabia. It is currently led by Mohammed Al-Jadaan.
The Ministry of Finance is an Indonesian government ministry responsible for the nation's finance and state assets. The Finance Minister is responsible to the President. The ministry's motto is Nagara Dana Rakça, which means "guardian of state finance".
The Ministry of Finance or Ministry of Treasury (MH) is the department of the Government of Spain responsible responsible for planning and carrying out the government policy on public finance and budget and it applies and manages the regional and local financing systems and the provision of information on the economic-financial activity of the different Public Administrations.
The Finance system in Azerbaijan consists of government policy and arrangements for borrowing and lending and the transfer of assets. The system is composed of banks, insurance companies, other financial institutions, pension system, financial markets and payment systems.