<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> A government budget is a financial statement 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 . </P> <P> The government budget balance is further differentiated into the primary balance and the structural balance (also known as cyclically - adjusted balance). 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 . </P>

When the government's expenditures are greater than tax revenues