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Cambridge Definition
he amount by which a government's spending is more than the money it receives
Cambridge Link
GOVERNMENT DEFICIT – Cambridge English Dictionary
Wikipedia Definition
(Redirected from Government deficit) This article is about government budget balances. For trade balances, see Balance of trade. For payment balances, see Balance of payments. "Budget deficits" redirects here and is not to be confused with Government debt. The government budget balance, also referred to as the general government balance,[1] public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting (rather than cash accounting) the budget balance is calculated using only spending on current operations, with expenditure on new capital assets excluded.[2]: 114–116 A positive balance is called a government budget surplus, and a negative balance is a government budget deficit. A government budget presents the government's proposed revenues and spending for a financial year.
