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HASSET Thesaurus

Concept information

ECONOMICS > FINANCE > PUBLIC FINANCE > STATE BUDGETS > BUDGET DEFICIT

Preferred term

BUDGET DEFICIT  

Definition

  • THE EXCESS OF GOVERNMENT'S TOTAL EXPENDITURE OVER ITS INCOME. THIS HAS TO BE MET BY BORROWING, WHICH INCREASES GOVERNMENT DEBT. BUDGET DEFICITS CAN BE CALCULATED FOR ANY LEVEL OF GOVERNMENT: CENTRAL, LOCAL, STATE IN FEDERAL COUNTRIES SUCH AS GERMANY OR THE UNITED STATES, OR FOR GENERAL GOVERNMENT, WHICH IS ALL THESE LEVELS COMBINED.

Broader concept

History note

  • TERM CREATED JULY 2013. PREVIOUSLY THE TERM 'STATE BUDGETS' WOULD HAVE BEEN USED.

Keyword search

Definition source

  • DE-2017

URI

https://hasset.ukdataservice.ac.uk/785f319c-6a32-4d8b-bba4-052f9a3eb587

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