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$Unique_ID{COW02688}
$Pretitle{436}
$Title{Norway
The National Budget 1991}
$Subtitle{}
$Author{Royal Norwegian Ministry of Finance}
$Affiliation{Norway Information Service, New York}
$Subject{norwegian
budget
national
}
$Date{1991}
$Log{Table 1*0268801.tab
}
Country: Norway
Book: The National Budget 1991
Author: Royal Norwegian Ministry of Finance
Affiliation: Norway Information Service, New York
Date: 1991
The National Budget 1991
[See Table 1: Key projections]
PREFACE
This publication presents a summary in English of Norway's National
Budget for 1991. The National Budget was presented by the Government led by
Prime Minister Mr. Jan Peder Syse to the Storting (Parliament) as Report no.
1 on October 4, 1990.
The summary gives an overall picture of economic developments in Norway,
in particular the economic forecasts for the period 1990-93. In addition, the
publication contains a chapter on the possible effects of an EES agreement on
the Norwegian economy.
Since the presentation of the National Budget, two important events has
taken place:
- On October 22, the Norwegian krone (NOK) was unilaterally linked to
the ecu, with a fixed parity of NOK 7,9940 per ecu, which reflected the market
value of the Norwegian krone on the day of the announcement. Thus, the change
took place without any appreciation or depreciation of the Norwegian krone.
The NOK was given a formal margin of +/2.25 pct. around the new parity. The
change in the Norwegian currency system was undertaken to further underline
the importance of a fixed exchange rate system and the interest of Norway in
contributing to extending the European zone of monetary and economic
stability.
- On October 29, the Government led by Mr. Syse resigned. The new
Government led by Mrs. Gro Harlem Brundtland took seat on November 2.
Royal Norwegian Ministry of Finance
Economic Policy Department
Svein Gjedrem
Director General
October 1990