Budget Deficit & National Debt

Tóm tắt

The study of budget deficits and national debt has been an active field of research in the assessment of economic performance, particularly, European countries. An explanation of definition of national debt and budget deficits has been expressed in this project. National debt (or government debt or public debt) is the total value of money which government borrowed from all levels in the country from central to local government. The purpose of this action is to refinance for budget deficits, in other words, government debt is the accumulated deficits to a point. In addition, to visualize the size of national debt easily, it is often measured by the percentage of gross domestic product (GDP). Throughout this project, audiences can find out how to clarify the differences and linkages between budget deficits and public debt. Moreover, based on some economist theories, a comprehensive summary of Portugal's economy after credit crunch 2008/2009 has been provided, so that a wide range of implication of these values to the economic performance was identified.