General government

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General government consists of central, state and local governments and the social security funds controlled by these units. General government accounts presents data on fiscal balance, debt, revenues, expenditure, costs and reserves of governments. Central government consists of the institutional units making up the central government plus those non-profit institutions that are controlled and mainly financed by central government. The political authority of central government extends over the entire economy. Central government can impose taxes on all residents and non-resident units engaged in economic activities within the country.

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Keywords:  government

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  • General government deficit

    General government deficit is defined as the fiscal position of government after accounting for capital expenditures. Net-lending means that government is providing financial resources to other sectors and net-borrowing means that government requires...
  • General government revenue

    General government revenue includes taxes collected from households and corporations, and those from income, wealth, production and imports; social security contributions; property income and other income.
  • General government spending

    General government spending, as a share of GDP and per person, provides as an indication of the size of the government across countries.
  • General government spending by destination

    General government final consumption can be broken down into two distinct groups. The first reflects expenditures for collective consumption that benefit society as a whole, or large parts of society, and are often known as public goods and services....
  • General government debt

    General government debt-to-GDP ratio, is defined as the amount of total gross government debt of a country as a percentage of its Gross Domestic Product (GDP). It is considered as one of the indicators of the health of an economy.
  • General government financial wealth

    The financial net worth of the general government sector is the total value of its financial assets minus the total value of its outstanding liabilities.
  • Government production costs

    General government production costs are defined as decisions on the amount and type of goods and services governments produce, as well as on how best to produce them, are often political in nature and based on a country's social and cultural context.
  • Government reserves

    Reserve assets are assets that are readily available to and controlled by monetary authorities for direct financing of payment imbalances. Reserve assets may be monetary gold, special drawing rights (SDRs), a reserve position in the International...
  • Central government spending

    Central government spending refers to central government's spending as reported in the final central government accounts, including transfers between the different levels of government.
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