A budget deficit (预算赤字 yù suàn chì zì) occurs when current expenses exceed the available revenue to pay for such expenses.
Part 1: Breakdown of Words
- “Deficit” (赤字 chì zì) as in “trade deficit” (贸易赤字 mào yì chì zì) and in “fiscal deficit” (财政赤字 cái zhèng chì zì).
- “赤” (chì) as in “red color” (赤色 chì sè), or “naked” (赤裸 chì luǒ).
- “字” (zì) as in “character” (文字 wén zì), “digit” (数字 shù zì), or “Chinese characters” (汉字 hàn zì).
- “Deficit” (赤字 chì zì) literally means “red characters”, because in China deficits are conventionally recorded with a red pen by accountants.
- “Budget” (预算 yù suàn) as in “defense budget” (国防预算 guó fáng yù suàn) and in “project budget” (项目预算 xiàng mù yù suàn).
Part 2: Examples
- Government budget deficit (政府预算赤字 zhèng fǔ yù suàn chì zì).
- Structural budget deficit (结构性预算赤字 jié gòu xìng fǔ yù suàn chì zì).
- Cyclical budget deficit (周期性预算赤字 zhōu qī xìng fǔ yù suàn chì zì).
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