"Budget deficit" redirects here; not to be confused with Government debt. This article is about government budget deficits. For trade balances, see Balance of trade. For payment balances, see Balance of payments.

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  • "Budget deficit" redirects here; not to be confused with Government debt. This article is about government budget deficits. For trade balances, see Balance of trade. For payment balances, see Balance of payments. {{#invoke: Sidebar | collapsible }} The Government budget balance, also commonly referred to as general government balance, public budget balance, or public fiscal balance, is the overall result of a country's general government budget over the course of an accounting period, usually one year. It includes all government levels (from national to local) and public social security funds. The budget balance is the difference between government revenues (e.g. , tax) and spending. A positive balance is called a government budget surplus, and a negative balance is called a government budget deficit. The government budget balance is used to assess the fiscal health of a country. It is further differentiated by closely related terms such as primary balance and structural balance (also known as cyclically-adjusted balance) of the general government. The primary budget balance equals the government budget balance before interest payments. The structural budget balances attempts to adjust for the impacts of the real GDP changes in the national economy. Keynesian economics advocates a government budget deficit during recession or downturn as long as it is limited enough to render the structural government budget balance positive.
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  • "Budget deficit" redirects here; not to be confused with Government debt. This article is about government budget deficits. For trade balances, see Balance of trade. For payment balances, see Balance of payments.
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  • Government budget balance
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