Posted on 09/06/2016 11:28:08 AM PDT by Olog-hai
For the first time since the mid 1990s, Norway’s expenditures have exceeded state revenues.
Figures released by Statistics Norway (SSB) on Tuesday show that the state’s total revenues in the second quarter of this year totaled 328 billion kroner, which is 2.3 percent less than in the same quarter of last year. […]
“Reduced income from petroleum taxes and reduced surplus from the State’s Direct Financial Interest in petroleum activities (SDFI) account largely for the continued decrease in total revenue in Q2 2016,” SSB wrote. …
(Excerpt) Read more at thelocal.no ...
I can think of something else that changed in Norway over the last couple of years, and that something had nothing to do with obscure energy tax laws.
Gotta love how these stories constantly focus on "decreased oil revenue." The stories about Venezuela's budget crisis focus on the same thing. Do ya think that excessive Welfare State spending has anything to do with it? Maybe? Just maybe?
There seems to some unexplained upswing in expenditures, that is curious
Funny how spending never gets cut to meet revenue...
Where’s Beta Ray Bill when you need him?
Yeah, there’s been a considerable influx of Middle East tourists. Funny, usually tourism is a boost to the economy. Maybe they aren’t buying as many souvenirs as expected.
Revenues down 2%, Expenditures up 8%.
All is going according to plan for the TPTB global economic collapse ahead that will usher in a world currency and central governance.
No country will be spared.
No, but they're helping themselves to another type of souvenir at a robust rate: Man charged with raping three Oslo women.
The migrants aren’t helping?
Veldig ironisk!
Import tens of thousands of deadbeats to suck up your cherished Scandinavian social programs, and it doesn’t take long to bust the budget. Not to mention the money spent on increased security forces to track down and persecute anyone daring to question the wisdom of importing an evil culture into the land of the Vikings.
I read somewhere a year ago that 9% of the Norway population was on government disability. (Free oil $$$)
Plus thousands of Third World refugees who add to the welfare burden along with an increase in crime.
Socialism is much easier when you have lots of oil
Socialism is much easier when you have lots of oil
That right there is literally LOL material!
Wasn’t Nokia Finnish?
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