Public Finance

English-language economic definitions generated from approved international institutional sources.

central government

In public-sector statistics, central government refers to institutions exercising authority for the country as a whole. This category generally covers national ministries, executive bodies, and comparable publicly controlled entities with nationwide responsibilities. It does not include bodies governing provinces, regions, municipalities, or separately recorded social-protection schemes. The classification is used to present national-level public revenue,… read more »

budget balance

The general government's budget balance is the fiscal result recorded for a defined accounting period. It is positive when receipts exceed outlays and negative when outlays are greater than receipts. This indicator shows whether public finances generate a surplus or require additional resources, and its meaning depends on which government entities and transactions are covered.

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