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The rapid rise in the budget deficit created concern among many in Congress. TEFRA was created to reduce the budget gap by generating revenue through closure of tax loopholes; introduction of tougher enforcement of tax rules; rescinding some of Kemp-Roth's reductions in marginal personal income tax rates that had not yet gone into effect; and ...
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.
In 2006, Kenya had a current account deficit of US$1.5B. This figure was a significant increase over 2005, when the current account had a deficit of US$495 million. In 2006, the current account balance as a percentage of gross domestic product was −4.2.
Deficit spending may, however, be consistent with public debt remaining stable as a proportion of GDP, depending on the level of GDP growth. [citation needed] The opposite of a budget deficit is a budget surplus; in this case, tax revenues exceed government purchases and transfer payments. For the public sector to be in deficit implies that the ...
The Office of Controller of Budget of Kenya is an Independent Office established under Article 228 of The Constitution of Kenya with the core mandate being to oversee implementation of the budgets of the National and County Governments by authorising withdrawal from public funds.
Washington state is facing a projected operating budget deficit of between $10 billion and $16 billion over the next four years. “I want to be realistic, but I am also optimistic and have faith ...
WASHINGTON (Reuters) -The U.S. government posted a $367 billion budget deficit for November, up 17% from a year earlier, as calendar adjustments for benefit payments boosted outlays by some $80 ...
The primary deficit is defined as the difference between current government spending on goods and services and total current revenue from all types of taxes net of transfer payments. The total deficit (which is often called the fiscal deficit or just the 'deficit') is the primary deficit plus interest payments on the debt. [8]