"Budget deficits" redirects here; not to be confused with Government debt.
Government debt is the debt owed by a central government.
Deficits & Debts: Crash Course Economics #9 by CrashCourse
A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year.
A fiscal year is the period used by governments for accounting and budget purposes, which vary between countries.
Goods market: Calculate the budget balance of government by lostmy1
The government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending.
In accounting, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers.
A positive balance is called a government budget surplus, and a negative balance is a government budget deficit.
A budget is prepared for each level of government and takes into account public social security obligations.
Social security is a concept enshrined in Article 22 of the Universal Declaration of Human Rights, which states:
The government budget balance is further differentiated into the primary balance and the structural balance.
The structural budget balances attempts to adjust for the impacts of the real GDP changes in the national economy.