Money and FinanceBusiness - Money and Finance  Norway's trade surplus for June reached NOK 18.9 billion, 4.8 billion higher than in June last year. The high price for oil and increased fish exports are the main reasons.
Saturday, 16 July 2005 08:07
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Norway is the country which last year carried out the greatest tax reductions, according to the financial magazine Forbes. The figures are based on the gross national product. 
There is a strong increase in the export of goods from Norway. In May the export was 22.5 per cent higher than in the same month last year. The trade balance showed a surplus of NOK 23 billion.. 
Only four per cent of Norwegian households have had problems paying their bills over the past year. This is a reduction by nearly 50 per cent since the beginning of 2003.. 
The International Monetary Fund (IMF) has commended Norway for its economic policy. Norway has avoided the problems often encountered by countries with a large fortune from oil, the IMF says in a report.(Photo: Norwegian Finance Minister Per Kristian Foss) 
The thre-party coalition government and the Progress Party have reached agreement on a revised national budget, wwithout using more funds from the National Oil Fund. Changes amount to NOK 1.4 billion.(Photo: Government negotiator Jan Tore Sanner) 
The Norwegian Central Bank has raised the interest rate by 0.25 percentage points, from 1.75 to 2.00 per cent. This was announced following the bank's board meeting on Thursday. This is the first rate hike in three years. 
The coalition government has reached agreement with the opposition Labour Party and the Agrarian Party on a new national pension reform. Occupational pension for everybody and continued contractual pension are the main points in the agreement.. 
The National Petroleum Fund was worth NOK 1.09 trillion at the end of the first quarter, an increase by NOK 74 billion, or 7 per cent during the quarter. This was announced by the Norwegian National Bank. 
