Budget Deficit definition

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Budget Deficit definition

Budget Deficit definition

Definition of Budget Deficit

It is a situation where total government expenditure exceeds total government income.

What Happens When There is a Budget Deficit?

According to the budget deficit definition where the government spends more than its income (usually is), then the government will decide to finance it either by availing a loan (Government bonds) or by selling of government assets (privatization).

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