National Budget of Venadia
The National Budget of Venadia is established by the Great Veche with the first proposals set on September of the year previous, with the Great Veche having until the 1st of December to approve a national budget for the next year. If not agreement can be reached, the government may establish their own budget, although this has yet to occur in Venadian history.
Once approved by the Great Veche, the government may make adjustments up to 1.5% without approval of the parliament. The National Budget only concerns the expenditures of the Venadian central state, and thus does not include the budgets of the districts and local government directly, however the majority of income of most districts and local governments are transfers from the central state established by the National Budget. The majority of revenues for the National Budget comes from a variety of taxes, with a minority being from dividends from for-profit state enterprises and government-owned share in private businesses.
National Budget of 2015
Venadian National Budget of 2015
| Revenues | Budget | Real Expenditures | Expenditures (% of GDP) | Deficit | Deficit (% of expenditure) | Deficit (% of GDP) |
|---|---|---|---|---|---|---|
| $1.54 trillion | $1.54 trillion | $1.61 trillion | 43.3% | $70 billion | 3.9% | 1.9% |
| Area | Budget | Expenses | % of Budget | % of GDP |
|---|---|---|---|---|
| Defense | $140.1 billion | $143.3 billion | 9.1% | 3.9% |
| Education | $268.9 billion | $270.2 billion | 17.5% | 7.3% |
| Welfare and Social Security | $505.4 billion | $535.5 billion | 32.8% | 14.4% |
| Healthcare | $295.1 billion | $308.4 billion | 19.2% | 8.3% |
| Transfers to Districts | $95.2 billion | $95.4 billion | 6.2% | 2.6% |
| Food and Agriculture | $41.3 billion | $52.9 billion | 2.7% | 1.4% |
| Interest on Debt | $52.6 billion | $52.8 billion | 3.4% | 1.4% |
| Infrastructure & transport | $51.5 billion | $52.1 billion | 3.3% | 1.4% |
| International affairs | $19.2 billion | $22.5 billion | 1.2% | 0.6% |
| Social Housing | $38.2 billion | $41.3 billion | 2.5% | 1.0% |
| Environment & Energy | $10.6 billion | $11.7 billion | 0.7% | 0.3% |
| Science | $16.9 billion | $17.7 billion | 1.1% | 0.5% |
| Discretionary | $5.0 billion | $5.7 billion | 0.3% | 0.2% |