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:''"Budget deficit" redirects here; not to be confused with Government debt.'' A government budget is a government document presenting the government's proposed revenues and spending for a financial year. 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. 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 (from national to local) and takes into account public social security obligations. The government budget balance 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. ==Primary deficit, total deficit, and debt== The meaning of "deficit" differs from that of "debt", which is an accumulation of yearly deficits. Deficits occur when a government's expenditures exceed the revenue that it generates. The deficit can be measured with or without including the interest payments on the debt as expenditures.〔Michael Burda and Charles Wyplosz (1995), ''European Macroeconomics'', 2nd ed., Ch. 3.5.1, p. 56. Oxford University Press, ISBN 0-19-877468-0.〕 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.〔 Therefore, if refers to an arbitrary year, is government spending and is tax revenue for the respective year, then : If is last year's debt (the debt accumulated up to and including last year), and is the interest rate attached to the debt, then the total deficit for year ''t'' is : where the first term on the right side is interest payments on the outstanding debt. Finally, this year's debt can be calculated from last year's debt and this year's total deficit, using the government budget constraint: : That is, the debt after this year's government operations equals what it was a year earlier plus this year's total deficit, because the current deficit has to be financed by borrowing via the issuance of new bonds. Economic trends can influence the growth or shrinkage of fiscal deficits in several ways. Increased levels of economic activity generally lead to higher tax revenues, while government expenditures often increase during economic downturns because of higher outlays for social insurance programs such as unemployment benefits. Changes in tax rates, tax enforcement policies, levels of social benefits, and other government policy decisions can also have major effects on public debt. For some countries, such as Norway, Russia, and members of the Organization of Petroleum Exporting Countries (OPEC), oil and gas receipts play a major role in public finances. Inflation reduces the real value of accumulated debt. If investors anticipate future inflation, however, they will demand higher interest rates on government debt, making public borrowing more expensive. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Government budget balance」の詳細全文を読む スポンサード リンク
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