8 minute readGovernment deficit is a key indicator that attracts a lot of policy interest. It reflects when the fiscal balance – also referred to as net lending minus net borrowing – is negative. This article outlines how government total revenue and expenditure are calculated and how the fiscal balance is derived, and it explains why analysts have a particular interest in cases where governments run a deficit.

5 minute readImport duties – commonly referred to as tariffs – are charges levied on certain goods when they enter an economic territory. The 2008 System of National Accounts explains that they may be intended as a means of raising government revenues and/or protecting domestic industries by discouraging imports.