government expenditure

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Spending by government at any level. It is necessary to net out payments by one level of government to another, for example central government grants to local authorities. Government expenditure consists of spending on real goods and services purchased from outside suppliers; spending on employment in state services such as administration, defence, and education; spending on transfer payments to pensioners, the unemployed, and the disabled; spending on subsidies and grants to industry; and payment of debt interest.

Subjects: Economics.

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