Budget deficit (预算赤字)

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).
  • “预” (yù) as in “forecast” (预报 yù bào), “foresee” (预见 yù jiàn), “prophecy” (预言 yù yán), or “prediction” (预测 yù cè).
  • “算” (suàn) as in “calculation” (计算 jì suàn), “intend” (打算 dǎ suàn), or “arithmetic” (算术 suàn shù).

Part 2: Examples

1. Government budget deficit (政府预算赤字 zhèng fǔ yù suàn chì zì).
2. Structural budget deficit (结构性预算赤字 jié gòu xìng fǔ yù suàn chì zì).
3. Cyclical budget deficit (周期性预算赤字 zhōu qī xìng fǔ yù suàn chì zì).