Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Insurance
A contract in which one party (the insurer) agrees to provide financial protection or compensation to another party (the insured) in the event of specified risks or losses.
Allocation
Placing any state property at the disposal of a government agency to achieve a public service or benefit.
Credit Rating
An assessment issued by a specialized agency to measure the borrowing entity's — whether a country or a company — ability to meet its financial obligations and repay its debts on time. It estimates the financial solvency of the country or company.
Covering Non-Oil Revenues From the Total Budget
This indicator measures the ratio of non-oil revenue to total government spending to track the coverage of more sustainable and stable revenues, such as taxes, fees, and fines, for estimated expenditure requirements and to reduce dependence on oil revenue.
Loan Creditor
An entity or individual that provides funds to a borrower in the form of a loan and is owed repayment, often with interest, by the borrower.
Bonds
Bonds are debt securities issued by governments, corporations, or other entities to raise capital. Bondholders receive regular interest payments and the return of principal at maturity.
Goods
All types of material property (material assets), including water and all forms of power including electricity, gas, lighting, heating, cooling and air conditioning.
Goods and Services
The total value of goods and services purchased by a government sector to be used in the production process or acquired for resale, less the net change in stocks of those goods and services.
Approved Liquidity
The amount approved with the issuance of the budget for spending on general expenditures, programs and projects for the budget year.
Contract
An official contract document between the contractor and the government agency.
Interest
The return or cost of borrowing money for a specific period of time, calculated as a percentage of the original amount (principal).
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