Within the field of macroeconomics, the total government balance is a vital indicator of a country’s fiscal well-being and public financial management.
The term “overall government balance” typically refers to the difference between government revenue and government expenditure, taking into account all sources of revenue and all types of spending.
According to the IMF, the overall fiscal balance refers to net lending and borrowing by the general government. In some cases, however, the overall balance refers to total revenue and grants minus total expenditure and net lending.
The IMF’s Fiscal Monitor Report for October detailed the overall balance of every nation including advanced economies, emerging and developing economies, and low-income countries.
Source: BI
