What is the state's general budget?
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| Definition of Budget |
The state’s general budget can be defined as a detailed and approved estimate of all the state’s expenditures and revenues during the next coming period, which is usually a year.
Thus, the budget or the budget, as it is called in the Gulf countries, is the main tool used in fiscal policy to achieve prosperity, economic growth, and social justice, and it consists of two aspects:
I- Revenue
Revenue side: It consists of the general budget resources and contains:
- Taxes.
- Grants.
- Other revenues.
- Funding sources from lending proceeds and financial assets.
- Borrowing is considered part of the state's general budget resources.
II- Expenses
The expenses or expenditures side: It consists of the general budget uses and contains:
- Wages.
- Workers compensation.
- Purchase of goods and services.
- Benefits.
- Support (Direct and indirect cash).
- Grants and social benefits.
- Buying non-financial, i.e. investment, assets.
- Possession of local and foreign financial assets.
- Paying domestic and foreign loans.
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