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Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. Some economists argue that moving from a budget deficit to a balanced budget decreases interest rates, [2] increases investment, [2] shrinks trade deficits and helps the economy grow faster in the longer term. [2]
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
A balanced budget amendment or debt brake is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
Zero-based budget: This is defined as the budgetary process which requires each ministry/department to justify its entire budget in detail. It is a system of budget in which all government expenditures must be justified for each new period. [11]
Balanced budget norm - governments focused on balanced budget, each year they targeted the revenue expenditure balance but did not differentiate between recession and years of economic growth, because most of the countries could not follow this norm (during times of war and economic stagnation these rules have been constantly violated), even ...
For most other countries the total budget is shown. Although Germany is a federation, the statistics for Germany represent total general government spending. [3] Similar to Germany, Russia has a federative structure and a three layer budget system, here the total government spending is shown. [4]
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach ...
List of countries by government budget; List of countries by government budget per capita; List of countries by tax revenue to GDP ratio; Europe: List of sovereign states in Europe by budget revenues; List of sovereign states in Europe by budget revenues per capita; United States: List of U.S. state budgets