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Related to Deficit: Current account deficit


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 ?
According to report the previous financial year 2018-19 has recorded trade deficit 15.33 percent.
The BSP now expects the Philippines to book a BOP surplus of $3.7 billion this year, reversing the $2.3 billion deficit recorded in 2018.
'The current account deficit has dropped but it still remains elevated,' Arif Habib Limited Head of Research Samiullah Tariq said while talking to The Express Tribune.
On the other hand, financing current account deficit by speculative short-term and external debt-increasing hot money inflow may pose a big danger for economy.
Pakistan's central bank raised its key interest rate by 150 basis points to 12.25 percent on Monday, citing continuing inflationary pressures, a high fiscal deficit, and recent exchange rate depreciation.
However, despite shrinking current account deficit, the size of trade deficit remained as large as $23.84bn.
The deficit for the first five months of the federal fiscal year (October 2018 to February 2019) comes to $544.2 billion, up nearly 40 percent from the same period in 2017, according to Treasury.
The overall BOP deficit for the month of October only was lower at $458 million compared to September's $2.70 billion deficit.
The continued deficit for October brought the 10-month BoP position of the country to a deficit of $4.494 billion.
This stems from the autumn notification of the deficit and debt from Eurostat, which thus reduced the originally reported government deficit of Slovakia from the spring notification by 0.26 percentage point.
Diokno told reporters the government even expected the actual fiscal deficit to go below 3 percent.