The issue of the general budget deficit is a very important issue, as it includes the actual and planned deficit by the government for a full economic cycle approved by the law issued by the government parliament. Perhaps the most prominent goal of the financial deficit is for the government to appear before individuals as being able to address the problems suffered by projects and contractors with the government. Here, it has put itself before a real test that entails a moral obligation before individuals and a financial obligation before how to cover the deficit that may occur if the government does not address it. There are a set of tools through which the government can cover the deficit it has, including resorting to the International Monetary Fund or the World Bank (external borrowing) or through the central bank or government and private banks operating at home and abroad. Most developing countries resort to external borrowing, which is one of the most dangerous types of financing the budget deficit due to the obligations to pay interest on this debt, which burdens the general budget and makes it difficult for most of these countries to fulfill international obligations and thus puts themselves in an embarrassing position. On this basis, there are Others resort to local banks or the Central Bank to borrow to finance this deficit caused by the government’s promise to pay obligations to those entitled to them.

Philosophical treatments, general budget, acceptance and rejection

Rudiger Denbusch, Stanly Fisches, Gorden p. Sparts, Macroeconomics, Mc Grow- Hill Ryessin Limited, New York 1993, p448.

Khaled Shehadeh Al-Khatib, Hamad Zuhair Shamiya, Foundations of Public Finance, Wael Publishing House, 2003, 270.

Abdul Razzaq Al-Fares, Government, the Poor and Public Spending, A Study of the Phenomenon of the General Budget Deficit and Its Economic and Social Effects in Developing Countries, Arab Unity Studies Center, Beirut, 1997, 119.

Ramzi Zaki, The Intellectual and Social Conflict over the General Budget Deficit in the Third World, Sina Publishing, Cairo, 1993, 106.

Thomas Dernbuge, Fiscal Analysis in the Cyclically Neutral Budget Staff Papers, IMF, vol 22, 1999, p33.