Presentation of the 2026 statement
The meeting opened with a presentation by Ragnar Torvik, Chair of the Advisory Commission on Fiscal Policy (and Professor of Economics at NTNU). Torvik outlined the main messages of the 2026 statement and reflected on the broader purpose of Norway’s fiscal framework. He emphasized the importance of maintaining broad political consensus around fiscal policy and ensuring that public finances remain sustainable over time.
Torvik emphasized the role of the fiscal rule and the use of petroleum revenues in ensuring long-term sustainability, while still allowing room for short-term stabilization in times of economic uncertainty. A recurring theme was not only the level of public spending, but how resources are allocated and whether spending contributes sufficiently to long-term value creation.
Click here for Torsvik's presentation.
Academic Comments and Perspectives
Following the presentation, Steinar Holden (Professor at University of Oslo) and Espen R. Moen (Professor at BI Norwegian Business School and NFS-affiliate) offered comments and reflections. Their contributions addressed both the macroeconomic foundations of the fiscal framework and the economic trade-offs involved in public spending decisions.
The final presentation was given by Linnea Lorentzen (University of Oslo), who highlighted the need for mobilization and increased public investment in defense and preparedness in light of a more unstable geopolitical environment. Her remarks underscored how changing global conditions may affect fiscal priorities in the years ahead.
Click here for Holden's presentation , Moen's presentation or Lorentzen's presentation.
Panel Debate
The event concluded with a panel debate featuring members of the Standing Committee on Finance in the Norwegian Parliament. The discussion addressed key questions about fiscal discipline, public spending efficiency, and how Norway should navigate the tension between long-term sustainability and emerging policy needs.
The breakfast meeting demonstrated the value of close dialogue between academic economists and policymakers, and provided a platform for informed debate on the future direction of Norwegian fiscal policy.
To read the whole 2026 statement, click here. Or to see the link to the event.