The Budget expenditure in China attained a value of USD 4,218,480.41 million in 2023
The indicator recorded a historical growth (CAGR) of 4.33% between 2020 to 2023, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
Budget Expenditure:
The government's most effective tool for enacting its policies is the budget. The budget is a financial representation of the decisions made by society in nations with representative governance systems. Only legal expenditures should be made with public funds.
The budget expenditure is the allocation of funds for disbursement to various ministries, sectors, and departments during a fiscal year that is highlighted by the government. The budget allocations are made for the concerned departments and ministries under plan and non-plan expenditure estimates.
It provides a thorough analysis of various expenditure types as well as a general explanation for why estimates vary. A portion of the expenditure budget also includes requests for grants from the federal government.
Budget Expenditure: Global Scenario
According to GlobalData, the United States had the highest budget expenditure in 2021 at $5.8 trillion, followed by China ($4.5 trillion), Japan ($2.2 trillion), Germany ($2.1 trillion), France ($1.6 trillion), the United Kingdom ($1.4 trillion), Italy ($1.1 trillion), Brazil ($1 trillion).
The countries with the lowest budget expenditure are Malta ($7 billion), Cyprus ($11 billion), Iceland ($12 billion), Macau (SAR) ($13 billion), Latvia ($17 billion), Estonia ($15 billion), Uruguay ($20 billion) and Lithuania ($24 billion).
The average global budget expenditure was $434 billion in 2021 as per GlobalData which was a 0.3% increase from the previous year.
Budget Expenditure in China
Budget Expenditure in China attained a value of $4.5 trillion in 2021. It recorded a growth of 7.6% in 2021 compared to the previous year. Between 2018-2021, the budget expenditure in China increased by 34.1%. The budget expenditure in China was highest in 2021 with a value of $4.5 trillion and lowest in 2018 with a value of $3.3 trillion between 2018 and 2021.
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