What is better: deficit or surplus? Can the state budget have a surplus and a deficit? The meaning of the term "budget surplus"

Budget deficit- the state of the budget, characterized by an excess of the volume of expenditure obligations provided for in the budget over the volume of income planned in it and leading to the formation negative balance budget.

The budget deficit must be balanced, for which there are a number of special methods.

The mechanism for the formation of a state budget deficit or surplus can be presented as follows (Fig. 31):

• Balanced budget - equality of budget income and expenditure.
• Shortage Budget is the excess of expenses over its income.
• Surplus budget - exceeding budget revenues over expenses.

The occurrence of a budget deficit is not an ideal situation for. Covering the budget deficit carried out using special financial methods:

• issue additional ();
• issue of government bonds (domestic debt);
• financing and lending to other states ().

All sources financing the state budget deficit can be presented as follows (Fig. 32):

The state budget deficit is an indicator of the “ill health” of the national economy. It is subject to regulation in the direction of reduction.

• reorganization to increase its efficiency;
• restructuring of government external debt;
• strengthening control over the expenditure of budget funds;
• reducing budget expenditures on subsidies to unprofitable industries;
• ordering current system social benefits.

Budget surplus

It is extremely rare when drawing up a budget that the state opposite to the budget deficit develops - its surplus, i.e. the excess of income over expenses.

If a country has had a budget deficit for a number of years, then the first step to regulate it is to create a budget surplus or develop opportunities to reduce long-term deficits.

Should be paid Special attention on the concept of "primary surplus". This concept is used when assessing the possibilities of reducing public debt.

Primary surplus means that budget revenues minus borrowings must exceed expenses reduced by the amount of service (interest and repayment of principal).

A primary surplus shows that part of the budget revenues goes to repay the public debt (i.e. budget revenues minus borrowings more budget expenditures minus payments on the national debt).

In reality this means the following:

DB - K > RB - OGD,

• DB— state budget revenues;
• TO- credits and loans;
• RB— state budget expenses;
• OGD— servicing (payment of interest and repayment of the capital part of debts).

In the case of a budget surplus, when drawing up a budget in accordance with Article 88 of the Budget Code of the Russian Federation, you should:

• reduce the attraction of revenues from the sale of state property;
• provide for the allocation of budget funds for additional repayment of debt obligations;
• increase budget expenditures, including by transferring part of the revenues to budgets of other levels.

A possible measure is reduction in budget tax revenues.

Federal budget deficit and its financing

During the preparation and review, it may turn out that the budget will be reduced with an excess of expenses over income, i.e., with a deficit.

In world practice, the safe level of the budget deficit is considered to be its volume no more than 3% of. In 1991-1999 Budget deficits in Russia were significant. In 1997, there was a particularly large deficit, and the legislature was forced to sequester budget expenditures.

If a budget for the next year with a deficit is adopted, sources of financing the budget deficit are simultaneously approved.

• loans received from credit institutions in rubles;
• government loans made by issuing valuable papers on behalf of Russian Federation;

• government loans made in foreign currency by issuing on behalf of the Russian Federation;
• loans from foreign governments, legal entities and international financial organizations in foreign currency.

Sources of financing the federal budget deficit

Financing the budget deficit— covering the negative budget balance by attracting financial resources through government loans and reducing the balance of liquid financial resources of the state.

Included sources of internal financing

• the difference between the funds received from the placement of government loans, carried out by issuing government securities on behalf of the Russian Federation, the nominal value of which is indicated in the currency of the Russian Federation, and the funds allocated for their repayment;
• the difference between budget loans received and repaid by the Russian Federation in the currency of the Russian Federation, provided to the federal budget by other budgets of the budget system of the Russian Federation;
• the difference between loans received and repaid by the Russian Federation in the currency of the Russian Federation from credit institutions;
• the difference between loans received and repaid by the Russian Federation in the currency of the Russian Federation from international financial organizations;
• changes in fund balances in accounts for accounting for federal budget funds during the corresponding financial year;
• other sources of internal financing of the federal budget deficit (receipts from the sale of shares and other forms of participation in capital, from the sale of land plots, state reserves of precious metals and precious stones, reduced by payments for their acquisition; exchange difference from the federal budget, etc.).

Included sources of external financing The federal budget deficit takes into account:

• the difference between the funds received from the placement of government loans, carried out by issuing government securities on behalf of the Russian Federation, the nominal value of which is indicated in foreign currency, and the funds allocated for their repayment;
• the difference between loans received and repaid by the Russian Federation in foreign currency from foreign banks and organizations, international financial organizations and foreign governments, including targeted foreign loans;
• the difference between loans received and repaid by the Russian Federation in foreign currency from credit institutions.
• other sources of external financing of the federal budget deficit (for example, the amount of funds allocated for the implementation of state guarantees of the Russian Federation in foreign currency).

Budget Deficit Limits

Federal Budget Deficit Limits

Federal budget deficit approved federal law about the federal budget for the next fiscal year and the planning period, cannot exceed the size of the non-oil and gas deficit of the federal budget (the size of the latter cannot exceed 4.7 percent of the gross domestic product projected in the corresponding financial year (from 2012).

Approval of a federal budget with a deficit is permitted only if the oil price forecast for the corresponding financial year does not exceed the base oil price established in accordance with this Code.

Loans Central Bank of the Russian Federation, as well as the acquisition by the Central Bank of the Russian Federation of government securities of the Russian Federation during their placement cannot be sources of financing the federal budget deficit.

Limit values ​​of the budget deficit of a constituent entity of the Russian Federation and a municipal entity:

Limit value subject's budget deficit Russian Federation should not exceed 15% the approved annual volume of budget revenues of a constituent entity of the Russian Federation without taking into account gratuitous receipts.

At the same time, the maximum value of the budget deficit of a constituent entity of the Russian Federation in respect of which the measures provided for in paragraph 4 of Article 130 of this Code are being implemented should not exceed 10% of the approved annual volume of budget revenues of a constituent entity of the Russian Federation without taking into account gratuitous receipts. If the law of a constituent entity of the Russian Federation on the budget approves, as part of the sources of financing the budget deficit of a constituent entity of the Russian Federation, proceeds from the sale of shares, shares, shares owned by a constituent entity of the Russian Federation, as well as land plots owned by a constituent entity of the Russian Federation, and a decrease in fund balances in the accounts for accounting for budget funds of a constituent entity of the Russian Federation, the maximum amount of the budget deficit of a constituent entity of the Russian Federation can be approved within the limits of the specified revenues and the reduction of account balances in excess of the restrictions established by this paragraph.

Limit value municipal budget deficit should not exceed 10% the approved annual volume of municipal budget revenues without taking into account gratuitous revenues and tax revenues according to additional deduction standards.

At the same time, the maximum value of the budget deficit of the municipal formation, in respect of which the measures provided for in paragraph 4 of Article 136 of this Code are being implemented, should not exceed 5% of the approved annual volume of budget revenues of the municipal formation, excluding gratuitous revenues and tax revenues according to additional deduction standards.

If the municipal legal act of the representative body of the municipality approves the budget as part of the sources of financing the local budget deficit, the amount of proceeds from the sale of shares, interests, shares owned by the municipality, as well as land plots owned by the municipality and a decrease in the balance of funds for accounts for the accounting of local budget funds, the maximum amount of the local budget deficit can be approved within the limits of the specified revenues and the reduction of account balances in excess of the restrictions established by this paragraph.

The state budget surplus is an indicator showing the excess of budget revenues over expenses. In other words, the achievement of a positive balance in the country based on the results of economic activities of business entities. A deficit-free budget is the most favorable option for the state budget. However, it is not often possible to achieve actual balance of this indicator. And as a result, the state has a budget deficit, which subsequently leads to a tax debt.

As is known from theory, the budget structure is represented by a set of state, regional, municipal and consolidated budgets. And this division must be taken into account when conducting a detailed analysis of the results of their implementation. Thus, the deficit-free budget at the state level does not cover the negative balance of most regional and

The state budget surplus should be constantly examined from the perspective of positive and negative prerequisites. So, if this indicator arises as a result of efficient and economical consumption of budget funds and at the same time full 100% financing is traced, then this phenomenon is, of course, positive. If sufficiently high incomes were formed as a result of a favorable economic situation, or were obtained due to austerity, or a lack of funding for government spending, this cannot be considered a positive development.

Based on the resulting surplus, a stabilization fund is created at the state level, the income of which amounts to approximately half of the revenue side of the state budget. The state can use these funds to attract investment into the country, modernize (update) fixed assets, strengthen innovation activity, and social sphere.

A government budget surplus generates precisely those additional savings that the government can use to purchase additional financial and non-financial assets, pay off debt obligations, and pay for capital transfers.

The state budget surplus is in constant conflict with the deficit. These two indicators are opposite and cannot exist simultaneously. Thus, the budget deficit is an indicator of the excess of government expenditures over revenues. In this case, income and expenses are formed according to a special classification specified in the relevant law on the state budget.

The main reason for the shortage is production declines, political instability in the country and, of course, wars. All these factors show a significant decrease in budget revenues in the form of a decrease in tax revenues. And at the same time, expenses either remain at the same level or even increase. Thus, one can see a gradual increase in the deficit.

Sources of covering the budget deficit can be presented in the form of additional financing, as well as attracting various The first method can be represented by money emission, which can intensify inflationary processes, be characterized by rising prices for services and goods, reduce the standard of living of the majority of the population and aggravate social tension in the country. It is for these reasons that the most acceptable option for the state is to use internal and external loans.

To summarize all that has been said, we can conclude that the state budget surplus can have both positive and negative aspects in its formation. These emerging factors should be subject to detailed analysis by state financiers and prevent the emergence of negative aspects in the formation of the state budget in the future.

Finance > Economics > Positive and negative sides state budget surplus

The state budget, like any other, consists of two parts: revenues and expenses. Any government strives for both parts to be in balance, which in the language of economic science is called balance. But in reality, there is almost never equilibrium. Therefore, it is necessary to know what deficit and surplus are, their pros and cons.

Deficit is a situation when expenses exceed income, that is, the balance sheet turns out to have a minus sign. This structure is most often observed in countries with developed economies and arises in connection with inflation. Deficits indicate instability in finance and production. In order to balance the balance, the government seeks funding within and outside its own country, which increases the government's debt.

If we talk about what a budget surplus is, then its definition is exactly the opposite of the definition of a deficit - revenues exceed expenses. What does the word budget surplus mean? This is a positive balance. There is only one plus in such a situation - the state is able to fulfill all its obligations.

What is a government budget surplus, and why is it good or bad? If there is a primary surplus in the state budget, then loans are deducted from income, and funds spent on servicing debts are deducted from expenses. In the secondary form, income covers all expenses, including those required to service the state’s debts.

Why is a budget surplus bad?

There are many more disadvantages than advantages:

1. excess funds are simply stored, which leads to their depreciation;
2. the capabilities of production enterprises are reduced, that is, finances are practically taken away from the regions;
3. The efficiency of the work of authorities in the regions is reduced.

Legislators in many countries understand perfectly well what a budget surplus means and adopt legal norms, prohibiting such a structure of the state budget. What is a budget surplus in times of austerity? In this case, there is nothing positive, since the state does not spend enough money to finance material and financial assets and pay debts.

Exceptions are situations where large incomes are due to the economical, rational use of funds and are accompanied by sufficient local funding. The state gets the opportunity to create a stabilization fund, which is subsequently spent on the social sphere.

A budget deficit is a state of the state treasury when revenues (even taking into account borrowed money) are not enough to finance all necessary expenses.

Budget deficit is an excess total amount government expenditures over the amount of revenue received. In the opposite situation, they talk about a budget surplus.

In itself, the deficit is not a problem, but rather a reflection of the economic processes taking place in the country. It is much more important what exactly causes it and what methods are used to cover it. The uniqueness of the state budget lies in the scale of its impact on the economy. Its ability to distribute cash flows is many times higher than that of any business entity.

Structure of income and expenses

The state budget is a document consisting of two parts. Revenue - reflects the flow of taxes, profits of state-owned enterprises, and dividends from shares into the treasury. Expenditure (budget list) - determines the directions for using money to finance the tasks and functions of the state (Fig. 1). If the revenue side is predominantly influenced by the economic situation and tax policy, then the structure of expenses changes depending on current needs, and depends more on the developing domestic and global socio-political situation.

Figure 1. Main sources of income in the FB and areas of spending.

Causes of deficiency

Federal budget deficits arise for various reasons:

1. as a result of a sharp or sudden increase in military spending;
2. reduction in tax revenues in the revenue sector during an economic downturn;
3. when expanding expenditure items and increasing funding for them;
4. due to investments in large projects (construction of the cosmodrome, Kerch Bridge);
5. due to planning errors, ineffective tax policy, corruption.

It is not only a “coincidence of circumstances” that leads to it, but also government policy. The government of any country always faces a choice. What should be a priority at the moment: accumulation or consumption; economic growth or social justice. With the help of the budget, national income is distributed, the structure of consumption changes, and the rate of economic growth is stimulated or restrained.

Example. Consider the current budget deficit in Russia. It was last recorded with a surplus in 2011. In 2012, there was a negative balance of 0.3%. Over the next two years, it increased almost 10 times: in 2013 - 2.5%, in 2014 - 2.3%. On the one hand, this situation is due to a fall in oil prices and a decrease in income, and on the other hand, an increase in financing for individual items (Fig. 2). In just 3 years, the total increase in spending was more than 35%, and the lion's share of it falls on the national economy, defense and security.

Figure 2. Growth rate of FB expenses in 2014 compared to 2011 in certain areas, in%.

Deficit financing

Regardless of the nature, the deficit must be financed, for which purpose they are used different methods and their combinations. They are usually divided into two groups.

1 Non-emission methods of covering the negative balance: internal and external loans.

Main instruments: placement of government debt obligations (bonds, other securities), bank lending, loans from international financial organizations. Each type of borrowing has different influence on the economy, and cause different consequences.

Domestic debts lead to an increase in the demand for money, which entails an increase interest rates, that is, an increase in the cost of loans, reduces the economic activity of enterprises. The second negative effect: a threat to the stability of the national currency and the stability of the Central Bank, which could lead to default. Domestic borrowing has both financial and political limits.

External borrowing has more advantages. It does not cause the withdrawal of funds from the national economy, but on the contrary: it increases the financial capabilities of the country. The funds are used to increase government orders, pay for foreign currency purchases, repay external loans and pay interest on them. As a result of the sanctions war, world banks do not give money to Russia, and it borrows more and more on the domestic market (Fig. 1).

Figure 1. The size of the internal public debt of the Russian Federation in 2011 - 2015, billion rubles.

2 Inflationary methods (issue of banknotes).

Such financing involves the additional issue of paper money. Budget deficit in simple words, are covered by “turning on the printing press.” What consequences does this lead to? The issue saves from the growth of external debt and the costs of servicing it, does not reduce the investment flow into the economy - it even stimulates aggregate demand. But it unwinds the inflationary “spiral”, so it is permissible up to a certain threshold.

A government budget surplus is... Budget deficit and surplus

If it is exceeded, the situation gets out of control.

Is there a need for a deficit?

A balanced budget policy means equality of revenue and expenditure parts. This is desirable, but practically impossible in real conditions. If the price of balance is too strict a savings regime (the principle of “stretching your legs according to clothes”), then this actually means a refusal economic development.

In addition, the increase in defense spending leads to the infringement of other areas, and in terms of “social services” we are only in 73rd place in the world. The desire to annually adopt a deficit-free budget, according to economists, can lead to two consequences: higher taxes and a lower quality of life. To prevent this from happening, a deficit is created under current conditions. A promising direction for covering it is a debt policy to reduce external debt and replace it with internal loans.

All countries have a budget deficit and cover it through loans. Moreover, their volume exceeds the size of the national GDP. So, in 2011 we had a budget surplus, while in other countries the balance was negative: America - 14.3%; England - 8.4%, Germany - 2.3%; France - 6.0%; Japan - 10.0% of GDP. In Russia, this figure reached 2.6% in 2015, and we are still far from reaching the critical indicator (60%).

Questions and answers on the topic

No questions have been asked about the material yet, you have the opportunity to be the first to do so

What is a budget surplus?

Each person can, in one way or another, formulate what a budget deficit is. This is a situation when there is much less money in the state treasury than is needed - that is, the country's income is not enough to cover all necessary expenses. And of course, there is no question about the assessment of the situation - there is nothing good in a deficit.

What is a budget surplus?

The situation with surplus is more complicated. Let's figure out what a state budget surplus looks like in practice, and most importantly, let's try to understand why it is more bad than good.

Income exceeding the level of expenses - surplus budget

Budget surplus- this is a situation in the country’s economy when there is not only enough money in the treasury for all current needs, but there is also a surplus left.

In one specific period, the state can:

• cover all external debts;
• pay pensions, salaries and benefits;
• finance all important areas from industry to defense and education.

And at the same time, the treasury will not remain empty - there will still be funds in it.

At first glance, it seems that one can only rejoice at such a situation in the economy. But in fact, there are downsides to a surplus. Namely:

• the competitiveness of funds decreases, since some of them simply do not take part in circulation;
• the burden on business increases - very often a surplus is created precisely due to high taxes;
• External debt is growing - new loans from other states can also cause a budget surplus, but sooner or later these loans will have to be repaid.

But of course, there are also many positive aspects to a surplus. For example:

• the country's economy is beginning to inspire greater confidence among investors from all over the world;
• in the event of force majeure situations in different spheres of the country’s life, there is always a reserve of funds to solve problems;
• A budget surplus allows you to create or increase the country’s stabilization fund, its “emergency reserve” - or use additional funds to pay off external debts.

In general, we can say that the surplus cannot be assessed unambiguously - much depends on specific circumstances. Sometimes a budget surplus is bad, sometimes the situation creates favorable conditions for further development economy. However, ideal economic situation the balance between income and expenses is still considered - it is better if they are in approximately equal proportions to each other.

Federal Agency for Science and Education

Voronezh State Trade and Economic University

Faculty of Finance and Credit

Test work on the Budget of the Russian Federation

Budget balance. Budget deficit and surplus

Voronezh 2007

Introduction 3

1 The concept and essence of the budget 4

2 Dbudget deficit and surplus 8

3 Budget balance: concept and conditions 11

4 Parameters of the federal budget of the Russian Federation 15

Conclusion 18

Literature 20

Introduction

Modern economic theory pays great attention to the problem of deficit and budget balance. The reason for this is the rapid growth of states with huge budget deficits.

On modern stage development of the world economy, there is not a single state that is not familiar with these phenomena. There are common rules in the world for everyone economic laws and principles, which allows us to predict the future economic situation of countries at one or another stage of development.

In this regard, one of the important tasks economic policy state is to search for an optimal solution to the problems of the deficit budget and its balance.

The implementation of economic reforms in the Russian Federation has changed the basis for the functioning of the country's budget system and the relations between government bodies different levels, which required the development of a methodology for the formation of a new budget mechanism.

The reduction of irrational state expenditures led to positive changes in the structure of budget expenditures, a deficit-free federal budget, and the abandonment of its emission financing.

In this work we will consider the issues of budget deficit and surplus, as well as the problem of balancing the budget.

1 The concept and essence of the budget

State intervention in the processes of economic life in market conditions presupposes the mandatory presence of certain financial and material resources. At the same time, the state has at its disposal an important tool in the form of legalized power, which is capable of establishing, protecting and changing property rights. However, the actions of the state are not limited to the direct use of power, although they are based on it. The state may undertake the provision of services that are associated with a natural monopoly or information asymmetry, so it must have the labor, material and monetary resources necessary for the production and distribution of services, and organize the efficient use of these resources.

State resources can be formed in two ways: through direct participation of the state in market transactions and in the process of redistribution in the form of taxation of business entities. Carrying out production under conditions of a natural monopoly, the state usually sells products (services) on the market and, as a rule, at prices significantly lower than those that a private firm would set under similar conditions. However, one way or another, government organizations receive revenue that can provide cost recovery and expansion of production.

In some cases, the state deliberately uses prices that do not cover the costs of goods and services produced by government organizations. This is due to the desire of the state to stimulate the consumption of goods that have important advantages for citizens (for example, visiting museums).

Reduced sales prices may also serve to ensure the affordability of basic necessities for low-income individuals (for example, in relation to the pricing of housing and utilities). In such a situation, the unprofitability of state-owned enterprises is justified by redistribution priorities, which, however, presupposes selective, targeted provision of benefits. Therefore, the state needs financial resources to cover losses, provide benefits and subsidies. An even greater need for funds is determined by the fact that many types of economic activity of the state are not aimed at producing products that could be sold on the market. This applies in particular to social programs such as pensions and the creation of pure public goods.

By virtue of complete absence or within the average rate of return for market sales financial results, such types of activities are unattractive to the private sector. And then, in order to realize the state’s ability to take on the corresponding functions, redistribution mechanisms are used - the forced withdrawal of part of the income.

For these purposes, the main source of funds for the state is taxation. The state obliges persons engaged in commercial activities to participate in financing its expenses. In essence, it limits the rights of citizens and organizations to the income they receive, appropriating to themselves a certain portion of it established by law. By mobilizing resources, the state then uses them purposefully. This means that it acts not just as an authority with regulatory powers, but as an economic entity that compares expenses with income, strives for the efficient use of its resources, etc.

The budget is the most important financial category, an integral part of state and municipal finances. The essence of the budget is determined not only by the essence of the priority category of finance in relation to it, but also by the essence of the state and the socio-political system. In all socio-economic formations, the budget satisfies the state’s needs for cash. The value newly created by productive labor should objectively not only contribute to solving production problems, but also ensure the functioning of state institutions guaranteeing the constitutional rights and freedoms of citizens.

The budget operates within the relatively separate financial system of the state. This isolation is due to the fact that any state is called upon to protect the national interests of citizens. The budget sets the initial parameters for the balance of social and economic policies and represents the relationship between the goals of social development and the means of achieving them. Specific forms of this balance are the relationships between accumulation and consumption, between economic efficiency and social justice, and between various models of economic development.

On the one side, distinctive feature The budget is that it is focused directly on the interests of citizens. But an equally important feature of the budget is that it relates to the sphere of redistribution and consumption of the public product. As is known, the method of distribution is determined by the method of production, however, redistribution relations, having relative autonomy, can either inhibit or facilitate the production process and be a factor in increasing labor productivity. On the other hand, the specificity of the budget lies in its focus on economic growth and the increase in material wealth. This expands freedom of choice in the field of redistribution and opens up greater opportunities for the implementation of state economic policy.

The budget reflects the cyclical nature of the development of society and its dialectics, when the old is not completely denied, but everything positive in it is perceived and assimilated in a new round of development, which is the key point in considering the role and significance of the budget. The budget must be considered as a historical and economic category inextricably linked with the functioning of the state.

The state budget is the most important financial document of the country. It is a collection of financial estimates of all departments, public services, government programs, etc. It defines the needs to be met from the state treasury, as well as the sources and amounts of expected revenues to the state treasury.

The activities of the state in the formation, consideration, approval, execution of the budget, as well as the preparation and approval of a report on its execution (the wording applies to budgets of all levels included in the budget system of the Russian Federation) is called the budget process.

The budget system of the Russian Federation includes budgets of the following levels: Federal budget; budgets of the constituent entities of the Russian Federation (regional budgets); budgets of municipalities (local budgets)

According to Article 215.1 of the Budget Code of the Russian Federation cash service execution of budgets of the budget system of the Russian Federation is carried out by the Federal Treasury.

If planned budget revenues exceed budget expenditures, then this is called a budget surplus (or budget surplus). If planned budget expenditures exceed budget revenues, then this is called a budget deficit (or budget deficit). When, during the execution of the budget, the level of the budget deficit exceeds the indicator established when the budget was approved, or there is a significant decrease in expected budget revenues, the representative body of government (based on proposals from the executive body) decides to introduce a mechanism established by law to reduce expenses.

Such a “cut” of budgeted expenses is called sequestration.

Let us consider in more detail the issues of budget deficit and surplus.

2 Budget deficit and surplus

With a balanced budget, government revenues equal expenditures. Let us repeat that in the case when revenues are greater than expenses, the excess is called a budget surplus or positive budget balance. A budget deficit (negative balance) exists when expenses exceed income.

The absence of a budget deficit does not mean the “health” of the economy. It is always necessary to pay attention to which particular (state, regional, municipal, consolidated) budget is executed with a surplus. So, in last years The state budget of the Russian Federation is executed with a surplus, but the consolidated budget of the Russian Federation is in deficit due to the negative balance of the overwhelming number of regional and almost all local budgets.

In economic theory, several approaches to the problem of budget deficit have developed.

First concept: the budget must be balanced annually. In general, the desire to fight the budget deficit by all means and not make government borrowings can lead to negative consequences for the economy of any country. Let's say there is an increase in unemployment. Personal incomes are falling and tax revenues are shrinking.

Surplus is

The government, seeking to achieve a deficit-free budget, must either increase the number and rate of taxes, or reduce government spending, or use a combination of these measures. The consequence of these measures will be an even greater reduction in aggregate demand and a further decline in the economy. Such a fiscal policy is focused only on solving current economic problems, but is not capable of solving long-term problems. In 1992, the government of E. Gaidar pursued a fiscal policy based on the concept sharp decline government spending on social policy, thereby trying to reduce the budget deficit. However, he failed to either eliminate the budget deficit or stop the decline in production.

The second concept is that the budget should be balanced over the economic cycle, not annually. This means that the government is implementing a counter-cyclical policy and at the same time seeking to balance the budget. During a recession, the state implements a stimulating fiscal policy: reduces taxes and increases government spending, i.e. deliberately increases the budget deficit, thereby stimulating the growth of aggregate demand and economic recovery. During the recovery period, the state pursues a contractionary fiscal policy: it increases taxes and reduces government spending. A budget surplus arises, which is used to cover the budget deficit during a recession. This concept, however, has a significant drawback: it does not take into account the fact that recessions and ascents may be unequal in depth and duration, and they are extremely difficult to predict. For example, a long and deep recession may be replaced by a short and insignificant rise. In this case, the budget deficit will not be eliminated; it will take a cyclical form.

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Definition

Surplus is positive balance. In relation to the execution of the state budget - the excess of its revenue side compared to the expenditure side. In relation to the budget it represents a surplus budget, that is, the excess of income over costs; The term “primary surplus” is also used, that is, the surplus before interest expenses are deducted. In some cases, such an imbalance leads to increased inflation, but most often a surplus policy is carried out to contain inflation and ensuring its predicted level. A surplus policy is also necessary to reduce government debt obligations. In relation to the trade balance, this is the excess of the volume of exports over the volume of imports (in monetary terms).

Towards budget- excess income above costs. Budget surplus is an economic concept that means that the revenue side of the budget exceeds the expenditure side of the budget.

In relation to trade balance— excess volume exporting above volume import(in monetary terms).

BUDGET SURPLUS - positive budget balance, excess income budget over it costs. The surplus can be used to: reduce the raising of revenues from the sale of public or municipal property; allocation of funds to pay off additional obligations; increase in expenses, including through the transfer of part of the income to budgets of other levels; reducing tax revenues by introducing changes to the tax system.

Surplus trade balance- excess volume exporting above volume import(in monetary terms).

Trade surplus of the Russian Federation

Trade balance RF for 10 months of 2009 turned out to be positive and amounted to about $88 billion. This was announced on Monday, November 23, by the acting director of the consolidated department of macroeconomic forecasting of the Ministry of Economic Development of the Russian Federation to the Ministry of Economic Development RF Oleg Zasov. According to him, on an annualized basis, the balance decreased by almost half from $166.7 billion in 10 months of 2009.

The trade balance of the Russian Federation in October 2009, according to preliminary estimates of the Ministry of Economic Development of the Russian Federation, amounted to $11.3 billion, with exports of $30 billion and imports of $18.7 billion.

Export for 10 months of 2009 amounted to 238.2 billion dollars, - 150.2 billion dollars. O. Zasov recalled that imports for 10 months of 2008. was $246 billion, and - $412.7 billion.

Let us recall that in January-September 2009. The positive trade balance of the Russian Federation amounted to $74.9 billion, decreasing by 51.7% compared to the same period in 2008. Positive balance in January-September 2008 amounted to $155 billion. Foreign trade turnover, according to the Ministry of Economic Development, in January-September 2009. amounted to $337.8 billion and decreased compared to the same period last year by 43%, including with non-CIS countries - by 42.9%, with countries CIS - by 43.1%.

Export of goods, estimated Ministry of Economic Development, amounted to $27.7 billion in September, having decreased by 37.8% compared to September last year and increased by 0.5% compared to August of this year. In January-September 2009 Exports amounted to $206.3 billion, decreasing by 44.8% compared to the corresponding period 2008 Import of goods, estimated Ministry of Economic Development of Russia, compiled in September 2009. $17.5 billion, decreasing by 35.7% compared to September last year and increasing by 12.1% compared to August of this year. In January-September 2009 this figure amounted to $131.5 billion, decreasing by 39.8% compared to the corresponding period in 2008.

Sources

http://top.rbc.ru/

Investor Encyclopedia. 2013 .

See what “Surplus” is in other dictionaries:

SURPLUS- positive budget balance. Economic Dictionary. 2010… Economic dictionary

Surplus- positive budget balance. Dictionary of business terms. Akademik.ru. 2001 ... Dictionary of business terms

surplus- noun, number of synonyms: 1 surplus (18) ASIS Dictionary of Synonyms. V.N. Trishin. 2013… Synonym dictionary

SURPLUS- a positive budget balance, the excess of budget revenues over its expenses... Legal encyclopedia

Surplus- Surplus is a positive balance. In relation to the budget, the excess of income over expenses. Budget surplus is an economic concept that means that the revenue side of the budget exceeds the expenditure side of the budget. In relation to... ... Wikipedia

SURPLUS encyclopedic Dictionary economics and law

surplus- m. The excess of revenues over expenses (usually in the state budget). Ephraim's explanatory dictionary. T. F. Efremova. 2000... Modern Dictionary Russian language Efremova

surplus- surplus it, and (fin.) ... Russian spelling dictionary

SURPLUS- positive budget balance... Great Accounting Dictionary

surplus- the excess of (budgeted) income over (budgeted) expenses... Universal additional practical explanatory dictionary by I. Mostitsky

Books

• Budget and budget system. Textbook. In 2 volumes. Volume 2, Mst. P. Afanasyev, A. A. Belenchuk, I. V. Krivogov. The textbook covers all the required terms and concepts on the topic of budget and budget system. It is based on the fundamental categories of the budget - income, expenses, balance...

Budget surplus- this is the state of the state budget system, with an increase in the revenue side of the state budget to exceed the state. expenses.

A surplus is a surplus or excess of something, a larger number of things, finances, etc.

Budget surplus in macroeconomics- the excess of budget revenues over expenses, that is, a situation in which the revenue component of the budget prevails over the expenditure component.

Speaking in simple language, a budget surplus is a positive process in the economy, meaning that the total amount of income in the final calculation is higher than the amount of expenditure.

The concept of a budget surplus includes a primary surplus; in this situation, the calculation occurs in this way - state revenues (not including government loans and credits) must be greater than government expenses (without taking into account the amount of public debt).

That is, the primary surplus scheme looks like this: government revenues (a) minus government loans (b) > government expenditures minus government debt = primary surplus.

State budget system

The state budget system is the totality of all budgets available in the country, taking into account both the budget of state-owned enterprises and autonomous private institutions - most often, this refers to the system of taxation and internal debt. Essentially, the budget system is the sum of state income and expenses that regulates all financial flows, sets the desired direction for the economy and manages the central economy and the economy of federal subjects.

In order to make up more effective forecasts and parameters of economic activity, it is necessary to carefully monitor the parameters of profitability and expenditure of the state economy. Therefore, there is documentation recording items of state income and expenditure.

The formation of the revenue side of the state budget occurs with the help of tax and non-tax revenues, including:

State income is determined in two divisions: own income and regulatory income.

1. Own income- can be both tax and non-tax - the state receives income of this order on an ongoing basis, partially or completely from the relevant budgets, the list is given above.
2. Regulatory revenues- exclusively tax - the state receives them from federal and regional taxes.

In turn, expenses are divided into current ones - those required for the authorities, including - central authorities, local government and budgetary institutions, were able to function in accordance with government requirements.

Capital Expenditures- expenses that go towards the comprehensive development of the state - innovative technologies, sponsorship of projects, loans to promising organizations, investments in building renovation, investments.

Balanced budget and budget deficit

Balanced budget- this is the equality of the revenue and expenditure parts of the state budget. In most cases - situations of complete stabilization of the state budget balance annually - this is an impossible phenomenon due to constant economic fluctuations. Moreover, many economists believe that it is not particularly necessary, since there are still no established criteria for assessing the “balanced budget” setting.

There are a number of open debates about budget balance, for example whether there should be adjustments for the business cycle (that is, cyclical fluctuations in economic activity) in drawing up a balanced budget, whether the nominal (market rate without inflation) rate or the real (market rate taking into account inflation) should be taken into account. inflation) in budget calculations about government payments on external debt, and in general should interest payments on government debt and income received from government insurance interest be included? Economists do not have a single answer on this matter; points of view differ, but they partially recognize the required budget adjustment according to the economic phase.

In the European Union there is no obligation to maintain a balanced budget, but there is a requirement - to which the budget deficit of a state belonging to the European Union is obliged to regulate the budget deficit - requiring that annual growth not exceed 3 percent.

If a budget surplus is the superiority of revenue over expenditure of the state budget. The budget deficit, as expected, has the opposite meaning.

Budget deficit- this, in turn, is an excess of the consumables. Why is this happening?

A frequent reason for the formation of state budget deficits is an investment program for industrial development and restructuring of economic work, that is, expenses that require large financial investments. Also with financial policies far from being effective. Again, often (or rather always) budget deficits are provoked by negative restructuring of the political system, military actions, revolutions, and government restructuring.

The budget deficit needs to be covered. Which is done as follows.

How is the budget deficit covered?

The budget deficit is covered through:

• Inflation. In this case, the state issues an additional number monetary units, simply put, prints money in quantities exceeding those planned by the state - in this case, the value of the national currency begins to fall.
• Domestic public debt. This happens in the case of the issue of government loan securities, the country sells them to non-state enterprises that appear within the framework of its state, but to private ones - giving the bonds as security for the repayment of debt in national currency.
• External public debt. In this situation, a state applies for loans and financing from other states, committing to repay the debt in currency, goods and services.

When there is a budget surplus, the state most often reacts by launching a process of redistribution of public resources, reducing the supply of private resources for foreign use, distributing part of the resources towards paying external and internal debts and selling objects of secondary importance, as well as increasing subsidies to the population, in particular, investments in budget fund payments.

It is believed that a budget surplus is a positive phenomenon in the economy; in principle, every state strives to achieve a surplus; if the state budget surplus is regular, then this means that the state has achieved high level economic development and firmly holds its position, which indicates the strength and correct financial policy of the leadership, which gives good results in the state and its sphere of development.

However, not everything is so simple - many economists are confident that a budget surplus is an influence that is more likely negative than positive, because it often manifests itself in countries with economic stagnation, in which there are no investment projects and free working capital, also draw a parallel between budget surplus and unemployment, - according to some theories - government procurement is in demand to control and reduce the unemployment rate, therefore situations of exclusively budget surplus are questionable in terms of solving all government issues.