QBSW presents iBudget SK, a new application for iPhone, which provides a simple overview of Slovak state budget development. Download it NOW for FREE on iTunes!
The application iBudget SK will ensure you a daily updated overview of the movements relating to revenue, expenditure and balance the state budget through summary graphs and tables. The source of the information presented in this application Is Ministry of Finance. The application is compatible with iPhone, iPod touch and iPad.
The major state functions are funding through the state budget during the financial year. The state budget for each financial year is approved by National Council. It is the most important financial instrument to run national economic policy.
The state budget, as a major component of public finances, consists of:
• state budget revenues,
• state budget expenditures that are necessary for implementing the goals and figures of the Government
If the revenues and expenditures are not balanced, the difference means the surplus or deficit of the state budget.
The state budget is distributed to these main sectors:
1. Education, Science
2. Health
3. Agriculture
4. Transportation and infrastructure
5. Regional Development
6. Environment
7. Economy
The functions of the state budget are based on the public finance functions:
- Allocation of resources to fund public needs,
- Redistribution of GDP in order to reduce social inequalities of the market economy,
- Stabilization- an enforcement of national economic policy,
- Regulation – it allows direct state intervention in the economy,
- Control of income and expenditure.
For more information, visit www.ibudget.sk or download iBudget SK directly from iTunes.com.
(04.04.2011)