A Look at Ten Best Budgets of 2009

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A budget is said to be good when it is in surplus. Every country needs to balance its BOP; however, most countries fail to do so and go under debt.

Overall, 2009 was a bad year for almost every country as revenues were down due to the economic slump. However, a few countries were still able to achieve surplus budget.

Highlighted below are the top ten budgets of 2009 for your understanding.

1. Norway

General Government Deficit or Surplus as % of GDP:      1.7

Inflation in the country reached 3.98% in 2009; however, Norway maintained its number one spot due to its budget standing at a surplus. Almost every country faced a financial crisis during the period, but Norway managed to escape it thanks to better planning. Additionally, being a huge oil exporter helped the country a lot.

2. Switzerland

General Government Deficit or Surplus as % of GDP:      1

The country was able to have a surplus budget due to various reasons. For starters, Switzerland does not have to spend heavy on defense unlike other countries, such as the US. Additionally, it is also often criticized for a lack of government expenditure on public welfare.

3. Luxembourg

General Government Deficit or Surplus as % of GDP:      -0.9

Luxembourg faced a 5% budget deficit in 2009. Like many other countries in Europe, Luxembourg also suffered a huge blow due to recession; however, the damage was comparatively lesser. With a $40.7 billion GDP it continued to flourish.

4. Sweden

General Government Deficit or Surplus as % of GDP:      -0.9

Sweden changed its policies to meet the changing times and had a deficit budget in 2009, which still looked better in comparison to other countries. All the changes resulted in the country making it to the list of top 10 countries with the highest GDP.

5. Estonia

General Government Deficit or Surplus as % of GDP:      -2

Estonia had several problems with its budget in 2009. The plans continued to change with an increase in VAT and other taxes. The government also cut the expenses so that BOP could be balanced. This one point helped Estonia remain in good health and make it to this list.

6. New Zealand

General Government Deficit or Surplus as % of GDP:      -2.6

The budget concentrated on a lot of good things including education, social development, and research. It was highly concentrated towards making the future brighter.

7. Finland

General Government Deficit or Surplus as % of GDP:      -2.7

Finland has an egalitarian country that pays special attention to education and development. Its 2009 budget was also a step in the same direction. That year also saw some major tax changes and more money invested in research and development.

8. Denmark

General Government Deficit or Surplus as % of GDP:      -2.8

Denmark is among the world’s strongest economies. The world saw a slump in 2009; however, Denmark’s exports remained rock steady helping the country make it to this list.

9. Germany

General Government Deficit or Surplus as % of GDP:      -3.2

Europe’s biggest economy had to approve of a deficit budget to meet standards and continue to improve. The budget was aimed towards balancing the economy and giving it a boost so that the country could once again get back on its feet.

10. Australia

General Government Deficit or Surplus as % of GDP:      -4.1

2009 turned out to be a tough year for the country with revenues falling rapidly. The government had to cut income tax in an attempt to boost the country’s status. Nevertheless, the budget continued to provide welfare to people in the form of home owner grants and increased payments to the states.

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