Government finances refer to the management of a government's revenue (income) and expenditure (spending). It involves collecting taxes, borrowing money through bonds, and making decisions on how to allocate funds for various programs and services.
Related terms
Budget Deficit: When a government spends more money than it collects in revenue during a given period.
National Debt: The total amount of money that a country owes due to accumulated budget deficits over time.
Tax Revenue: The income generated by levying taxes on individuals and businesses.