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Economics Edexcel A
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4.5.3 Public sector finances
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With reference to Figure 1, explain the term 'balanced government budget'.
Figure 1: Republic of Vesperia Government Spending and Revenue (% of GDP), 2005–2023
Draw on this
Year
Government spending (% of GDP)
Government revenue (% of GDP)
2005
32.5
30.0
2008
31.0
31.0
2011
34.0
29.5
2014
29.0
31.0
2017
30.5
30.5
2020
36.5
29.0
2023
31.5
31.5
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4.5.3 Public sector finances Questions
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4.5.3 Public sector finances