Question

based on the national debt in 2020, if the interest rate on the debt were to rise from 2% to 5%, the interest payment on the debt would rise from to of government revenue.

Answer 1

The interest payment on the debt would rise from 0.2 to 0.5 of government revenue.

Government revenue, often known as national revenue, is the sum of money that a government receives from taxes and other sources to fund its operations. Both government spending and revenue are essential elements of the government budget and instruments of fiscal policy.

All of the government's earnings from taxes and other sources are referred to as government revenue. Government expenses are covered by these money. The government's fiscal policy heavily relies on its revenues and expenditures.

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