Discuss the topics with your group-mates:

1. Reasons of a budget deficit emerging.

2. Advantages and disadvantages of different ways of overcoming a budget deficit.

3. The ways of enlarging the State Budget of Ukraine.

V. Home task

Exercise 1. Translate the text in a written form with a dictionary:

The Budget and the National Economy

The original purpose o the Budget of the UK was to enable the Government to raise sufficient income to meet its expenditure in the same financial year. As the scale of Government expenditure and taxation increased, however, it was realized that both had an important influence on the general level of output and distribution of resources. In this respect it is part of the Budget`s job to help bring out a balance between the total goods and services, which are likely to be available to the nation and the total claims, which are likely to be made on them.

Before the Budget, therefore, the Government forecasts the potential growth of output and of imports in the coming year and the growth of the demand for them, which is likely to arise from personal spending, spending by the government and local authorities, investment and exports. If the situation revealed by the forecasts shows demand growing too slowly, it is open to the Government to take action to increase demand; for example, by reducing taxes in order to bring about an increase in the incomes and spending of individuals.

Notes:

To exceed – перевищувати;

Advance – збільшення (цін); позика; аванс; платити авансом, позичати;

To bring about – здійснювати, викликати;

Claim – вимога, претензія.

Unit 5

International financial organizations.

International Monetory Fund.

1. Read and memorize the following words:

to promote – заснувати, сприяти

cooperation – співробітництво

permanent – постійний

to provide – забезпечувати

machinery – механізм, обладнання

collaboration – співробітництво

to facilitate – сприяти

expansion – розширення

growth – зростання

stable – стабільний

to contribute – сприяти

drawing rights – права запозичання

payment – оплата

adjustment – коригування

objective – ціль

resources – ресурси

to assist – допомагати

annual – річний

to ensure – забезпечувати, гарантувати

to take into account – ураховувати

consequences – наслідки

to avoid – уникати

unfair – несправедливий, нечесний

compliance – відповідність

tenet – основний принцип

to empower – давати право

to exercise – виконувати

surveillance – патрулювання

charter – устав

to embody – включати

to commence – починати

headquarter – головне управління

milestone – віха

to include – включати

shortfall – нестача

inception – відкриття

to monitor – спостерігати, контролювати

stockpiles – запаси

amendment – поправка

to seek – шукати

supplementary – додатковий

contingency – можливість

exogenuous – екзогенний

facility – кредит

revenue – дохід

goal – ціль

Ex.1. Give English equivalents of the following:

забезпечувати

постійний

зростання

допомагати

ресурси

співробітництво

включати

шукати

додатковий

нестача

Ex.2. Match the words from list A with words from list B:

A

1. to monitor а) оплата

2. expansion в) ціль

3. to contribute с) розширення

4. payment d) сприяти

5. purpose е) контролювати

6. assistance f) забезпечувати

7. to ensure g) допомога

Ex.3. Combine the words with similar meaning:

cooperation, purpose, to commence, goal, to monitor, collaboration, to look for, objective, to facilitate, to seek,to begin, to help, to contribute, to assist, to include, to control, to embody, to aid.

I. Read and translate the text.