Akademik

deficit

An excess of liabilities ( liability) over assets, of losses over profits, or of expenditure over income. Bloomberg Financial Dictionary

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A situation in which a country has a negative balance of trade or payments. Chicago Mercantile Exchange Glossary

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deficit def‧i‧cit [ˈdefst] written abbreviation def noun [countable]

1. COMMERCE an amount of money that a business has lost in a particular period of time:

• Last year the university ran up a deficit of £17 million, but this year it has nearly succeeded in balancing the books.

2. ECONOMICS an amount by which the money that a government spends is more than it receives in tax in a particular period:

• The budget did less to reduce public spending and the deficit than many bankers and businessmen would have liked.

• The balance of payments was in deficit in 2000 and 2001, and in surplus in 2002 and 2003.

ˌbalance of ˈpayments ˌdeficit ECONOMICS

the amount by which money going out of a country is more than the amount coming in:

• The US balance of payments deficit was then 5.5 per cent of GDP.

ˈbudget ˌdeficit ECONOMICS

the amount by which what a government spends is more than it receives in taxes or other income, during a particular period of time:

• Any savings on military spending should be used to reduce the budget deficit.

ˌcurrent acˈcount ˌdeficit ECONOMICS COMMERCE

the amount by which money relating to trade, investment etc going out of a country is more than the amount coming in:

• The current account deficit is amazingly large, averaging 4.4% of gross domestic product.

ˈfederal ˌdeficit ECONOMICS

the amount by which US government spending is greater than the money it receives from taxes in a particular year:

• The federal government is receiving record tax revenues, and the federal deficit is now running 14% smaller than last year.

ˈtrade ˌdeficit ECONOMICS COMMERCE

the amount by which the money going out of a country to pay for imports is more than the amount coming in from exports:

• According to US trade statistics, the US has been running a trade deficit with Central America.

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The difference when expenditure is greater than income. Opposite of surplus.

► See also Surplus.

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deficit UK US /ˈdefɪsɪt/ noun [C]

► ECONOMICS, FINANCE the total amount by which money spent by a business or government is more than the money it receives: a deficit of £10 million/$1 billion, etc. »The two companies between them have reported a deficit of nearly $14bn.
have/run/show a deficit »About a third of the nation's non-profit arts presenters run a large deficit each year, according to Charity Navigator.
»reduce/cut a deficit
»federal/government/public deficit
»The US balance of payments deficit was running at over 4% of gross domestic product.

► the amount by which something, especially an amount of money, is smaller than it should be: »a pension/pension fund deficit
a deficit in sth »The company reported that an estimated $31.5 million deficit in this year's operating budget would end up at about $20 million as a result of savings.
»There is a deficit of trust between the customer and the banks, which yesterday's headline figure will do little to dispel.

→ Compare SURPLUS(Cf. ↑surplus)

● in deficit — Cf. in deficit

→ See also BUDGET DEFICIT(Cf. ↑budget deficit), CURRENT ACCOUNT DEFICIT(Cf. ↑current account deficit), EXTERNAL DEFICIT(Cf. ↑external deficit), TRADE DEFICIT(Cf. ↑trade deficit)

Financial and business terms. 2012.