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Where a budget deficit is identified, current expenditure exceeds the amount of revenue generated by standard operations. A country that wants to correct its budget deficit may need to cut some spending, increase revenue-generating activities, or use a combination of the two.
The opposite of a budget deficit is a budget surplus. When there is a surplus, revenue exceeds current expenditure and results in a surplus of funds that can be allocated as desired. When inflows equal outflows, the budget is balanced.
Few industrialized countries ran large fiscal deficits in the early 20th century, but during the First World War, deficits grew as governments borrowed heavily and depleted financial reserves to finance war and their development. These wartime deficits and growth deficits continued into the 1960s and 1970s, when global economic growth rates declined.
Where a budget deficit is identified, current expenditure exceeds the amount of revenue generated by standard operations. A country that wants to correct its budget deficit may need to cut some spending, increase revenue-generating activities, or use a combination of the two.
The opposite of a budget deficit is a budget surplus. When there is a surplus, revenue exceeds current expenditure and results in a surplus of funds that can be allocated as desired. When inflows equal outflows, the budget is balanced.
Few industrialized countries ran large fiscal deficits in the early 20th century, but during the First World War, deficits grew as governments borrowed heavily and depleted financial reserves to finance war and their development. These wartime deficits and growth deficits continued into the 1960s and 1970s, when global economic growth rates declined.
Machine translated
A budget deficit occurs when government spending exceeds government revenue. Then problems arise with the financing of public expenditure. For example, such problems arise when people's savings are insufficient or prevent their conversion into government bonds due to little or no interest in buying them. In this case, the state often issues additional money. The government then instructs the national bank to purchase bonds against government securities. The national bank of issue opens a long-term credit to the state to finance government spending.
A budget deficit occurs when government spending exceeds government revenue. Then problems arise with the financing of public expenditure. For example, such problems arise when people's savings are insufficient or prevent their conversion into government bonds due to little or no interest in buying them. In this case, the state often issues additional money. The government then instructs the national bank to purchase bonds against government securities. The national bank of issue opens a long-term credit to the state to finance government spending.
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