Budgetary Deficit
/ˌbʌdʒɪˈtɛri ˈdɛfɪsɪt/
Definitions
- (n.) A financial shortfall occurring when a government's expenditures exceed its revenues within a fiscal period.
The government's budgetary deficit widened due to increased public spending without matching revenues.
Forms
- budgetary deficit
- budgetary deficits
Related terms
See also
Commentary
In legal and policy contexts, distinctions between budgetary deficit and fiscal deficit can be crucial; drafters should specify the scope of revenues and expenditures considered.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.