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Federal Budget Of Germany
The establishment of the annual budget of the Federal Republic of Germany is known as the German budget process. Purpose The primary purpose of the budget is to create an overview of the country's revenues and expenses for the following fiscal year or years. Since the budget is based on past expenditures, it is merely a prediction of the future which can lead to unexpected budget deficits as the fiscal year progresses. In the short term, such deficits are commonly financed by borrowing money which has led to the significant long-term debt of the German federal government. Procedure The Bundestag passes the budget as an addendum to the annual or bi-annual budget act (Art. 110, Basic Law). Revenues and expenses are separated by ministries and other administrative entities. Budget guidelines Specific guidelines established by law govern the creation of the budget. Specifically, these are: # ''Completeness'': the budget must include all instances of revenues and expenditures ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated between the Baltic and North seas to the north, and the Alps to the south; it covers an area of , with a population of almost 84 million within its 16 constituent states. Germany borders Denmark to the north, Poland and the Czech Republic to the east, Austria and Switzerland to the south, and France, Luxembourg, Belgium, and the Netherlands to the west. The nation's capital and most populous city is Berlin and its financial centre is Frankfurt; the largest urban area is the Ruhr. Various Germanic tribes have inhabited the northern parts of modern Germany since classical antiquity. A region named Germania was documented before AD 100. In 962, the Kingdom of Germany formed the bulk of the Holy Roman Empire. During the 16th ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bundestag
The Bundestag (, "Federal Diet") is the German federal parliament. It is the only federal representative body that is directly elected by the German people. It is comparable to the United States House of Representatives or the House of Commons of the United Kingdom. The Bundestag was established by Title III of the Basic Law for the Federal Republic of Germany (, ) in 1949 as one of the legislative bodies of Germany and thus it is the historical successor to the earlier Reichstag. The members of the Bundestag are representatives of the German people as a whole, are not bound by any orders or instructions and are only accountable to their electorate. The minimum legal number of members of the Bundestag (german: link=no, Mitglieder des Bundestages) is 598; however, due to the system of overhang and leveling seats the current 20th Bundestag has a total of 736 members, making it the largest Bundestag to date and the largest freely elected national parliamentary chamber in the wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basic Law For The Federal Republic Of Germany
The Basic Law for the Federal Republic of Germany (german: Grundgesetz für die Bundesrepublik Deutschland) is the constitution of the Federal Republic of Germany. The West German Constitution was approved in Bonn on 8 May 1949 and came into effect on 23 May after having been approved by the occupying western Allies of World War II on 12 May. It was termed "Basic Law" (german: Grundgesetz) to indicate that it was a provisional piece of legislation pending the reunification of Germany. However, when reunification took place in 1990, the Basic Law was retained as the definitive constitution of reunified Germany. Its original field of application (german: Geltungsbereich)—that is, the states that were initially included in the Federal Republic of Germany—consisted of the three Western Allies' zones of occupation, but at the insistence of the Western Allies, formally excluded West Berlin. In 1990, the Two Plus Four Agreement between the two parts of Germany and all four All ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry (government Department)
Ministry or department (also less commonly used secretariat, office, or directorate) are designations used by first-level Executive (government), executive bodies in the Machinery of government, machinery of governments that manage a specific sector of public administration." Brockhaus and Efron Encyclopedic Dictionary, Энциклопедический словарь Брокгауза и Ефрона", т. XIX (1896): Мекенен — Мифу-Баня, "Министерства", с. 351—357 :s:ru:ЭСБЕ/Министерства These types of organizations are usually led by a politician who is a member of a cabinet (government), cabinet—a body of high-ranking government officials—who may use a title such as Minister (government), minister, Secretary of state, secretary, or commissioner, and are typically staffed with members of a non-political civil service, who manage its operations; they may also oversee other Government agency, government agencies and organiza ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Budgets By Country
The list is mainly based on CIA World Factbook for the year 2016 and 2019. The Chinese, Brazilian, Indian, and United States government budgets are the figures reported by the International Monetary Fund. The table includes information from government's budgets; namely revenues, expenditures and the resulting deficits or surpluses. The countries are ranked by their budget revenues in fiscal year 2016. Both sovereign states and dependent territories are included. List ''These figures are given as millions USD, unless otherwise specified.'' See also * List of countries by government budget per capita * List of countries by tax revenue to GDP ratio * List of countries by government spending as percentage of GDP Europe: * List of sovereign states in Europe by budget revenues * List of sovereign states in Europe by budget revenues per capita United States: * List of U.S. state budgets This is a list of U.S. state government budgets as enacted by each state's legislature. Note ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
