Definition, Meaning & Synonyms

deficit

noun

/ˈdɛfɪsɪt/

Definition

A deficit refers to the amount by which something, usually money, is less than the required or expected amount.

Examples

The country is experiencing a budget deficit that has raised concerns among economists.
After reviewing his finances, he realized he was running a monthly deficit.
The school faced a deficit in their funding, which affected several programs.

Meaning

In a financial context, a deficit indicates that expenses exceed revenue, leading to a shortfall. It can also apply to areas such as national budgets or personal finance.