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A deficiency, misappropriation, or defalcation; a minus balance; something wanting.

Deficit is commonly used to mean any kind of shortage, as in an account, a number, or a balance due. Deficit spending or financing involves taking in less money than the amount that is paid out.


Federal Budget.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. a shortage, less than is due, or in the case of a business or government budget, more expenditures than income. Unbalanced budgets with a planned year-end deficit are prohibited at every level of government except the federal.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

DEFICIT. This Latin term signifies that something is wanting. It is used to express the deficiency which is discovered in the accounts of an accountant, or in the money in which he has received.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Investors had expected the fiscal deficit to grow to up to 6.5 percent as the government ramped up borrowing and spending to spur economic growth, from 6.2 percent in the previous year.
On the revenue side, both tax and non-tax revenues are added after deduction of provincial share in revenues to obtain federal net revenue receipts then federal fiscal deficit is compute.
Major slippages on fiscal side as per the IMF authorities may emanate from higher power sector subsidies and lower than estimated materialization of provincial surplus, which will likely bring the fiscal deficit close to 7.0% of the GDP or PKR 3.0trn.
The details of fiscal operations released by the ministry of finance on Tuesday put the country's full year fiscal deficit at Rs3.445tr or 8.9pc of GDP - the highest since 1979-80 as per past Pakistan Economic Surveys.
The 'consolidated' fiscal deficit has been projected at 7.1% of the GDP.
ISLAMABAD -- In the Pakistan Tehreek-i-Insaf's first year in office, the country's fiscal deficit in first three quarters (July-March) of the current fiscal year peaked to five per cent of GDP as expenditures broke past records and revenue performance was the lowest almost in a decade.
Keywords: ASEAN, fiscal deficit, economic growth, Global Financial Crisis, capital accumulation.
Foreign investors will remain interested in the Indian equity market despite the populist measures announced in the interim budget 2019-20 and its subsequent impact on the fiscal deficit target.
New Delhi: The government has not sought funds from RBI's surplus reserves to meet fiscal deficit, Minister of State for Finance Pon Radhakrishnan said.
The government does not need a supplementary budget for now as the country's fiscal deficit is under control, says Deputy Finance Minister Datuk Amiruddin Hamzah.
ISLAMABAD -- Fiscal deficit and trade deficit are collectively known as twin deficits because they often feed on each other.

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