Based on the countries annual GDP (Tax Revenue)Does the gouvernment do a 1 yearly or 5 yearly forcast of where they are going to spend the money and is this published for public viewing. As is the case in many counties
Yes they do have Budget Estimates that covers inflows (revenues & any source of funds receivable) and outflows (approved expenditures); both re-current (that recurs periodically & considered annually for instance salaries) and capital (or development budget for activities, projects & programmes) that normally exceeds year to accomplish.
There are two sections; re-current and capital budget to keep track of inputs for GDP.
GDP and Budget/Tax Revunue are two different things.
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices.
GDP and Budget/Tax Revunue are two different things.
Yes agreed with your point. Hopefully brief definitions can help to clarify
GDP (Gross Domestic Product) defined; "The total market value of all the goods and services produced within the borders of a nation during a specified period."
or Gross National Product excluding payments on foreign investments.
The GDP (Gross Domestic Product) is a measure of the economic output of a country. The GDP can be calculated one of three ways, with the end result being the same. 1. Calculate what is spent on goods and services. 2. Calculate the market value of goods and services that were produced. 3. Add up all the income made by all the producers from every industry in the country. For more information see here: http://www.quickmba.com/econ/macro/gdp/
GDP is an economics indicator.
Budget is a management tool and is " an estimate, often itemized, of expected income and expense for a given period in the future."
Budgets are also "a plan of operations based on such an estimate." or "an itemized allotment of funds, time, etc., for a given period."
Governments formulate budgets to supply services and manage the capital projects and generate special accounts/statements to analyse REVENUES & VARIOUS FUNDS DISBURSED FROM OTHER SOURCES AND THE ACTUAL EXPENDITURES ON COMPARATIVE BASIS FROM PAST AND CURRENT YEAR.
Government inputs for PUBLIC EXPENDITURE ONLY to the GDP can be derived from the approved budget estimates.
The experts and professionals can continue with the technical details for layman consumption.
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Posted - 09 Mar 2010 : 22:56:17
