Top Ten Budgets of 2008


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A government budget is a paper that is often passed by the parliament, and agreed by the president or chief executive. As per best practices, a budget is said to be good when it is in surplus i.e.: revenues are higher than expenditures.

Mentioned below are ten best budgets of 2008. The list is compared seeing if the budget was in surplus or deficit.

1. Norway

General Government Deficit or Surplus as % of GDP:      19.1

The country with a huge number of international brands stands at number one with its budget leaving behind other countries’ budgets by a huge margin. The budget was cleverly made with the aim to improve living standard of the people while focusing on non oil deficit.

2. Finland

General Government Deficit or Surplus as % of GDP:      4.2

2008 saw Finland increase funding in research and development. The Finnish government readily approved the budget that was prepared to improve the people’s standard of living while concentrating on other areas as well.

3. Denmark

General Government Deficit or Surplus as % of GDP:      3.3

Denmark continued to have surplus budget in 2008 despite the beginning of a tough period. The new budget surprised many as billions were awarded to R&D. The main aim was to keep the country at the top of the globalization wave.

4. South Korea

General Government Deficit or Surplus as % of GDP:      3

South Korea has to devote a huge portion of its budget to defense expenditure due to its not-so-friendly relationship with a few countries. In 2008, it opened to foreign investment and exports during this period that helped it continue its growth.

5. Luxembourg

General Government Deficit or Surplus as % of GDP:      3

Luxembourg is a small country that mainly flourishes due to its enviable geographical location. It thrives due to highly motivated workforce and innovation. Additionally, it is able to get the right budget as it does not have to invest a lot in defense expenditure and most of the budget is aimed towards development.

6. Switzerland

General Government Deficit or Surplus as % of GDP:      2.3

In 2008, Switzerland stood at number 2 (behind Norway) in Europe. However, its budget was once again criticized by many as it failed to help the falling real income of the nation.

7. Sweden

General Government Deficit or Surplus as % of GDP:      2.2

The government set out the direction of the economic policy concentrating on the right points. Keeping with best practices, its budget was elastic that allowed changes as suggested by the parliament.

8. Australia

General Government Deficit or Surplus as % of GDP:      0.5

Australia’s 2008 budget had particular emphasis on family welfare. There were tax cuts in addition to huge amount being devoted to education and health sector. The tax plan was prepared very intelligently so that only high income earners would get affected.

9. Netherlands

General Government Deficit or Surplus as % of GDP:      0.5

Netherland suffered a blow in 2008 as recession hit in the last quarter. However, the country managed to meet its standards that were set in the budget.

10. New Zealand

General Government Deficit or Surplus as % of GDP:      0.4

Winding up the list at number ten is New Zealand, a country that almost always makes it to the top 10 list. Its 2008 budget was aimed towards improving the country’s development while concentrating on education and health.

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