Public Sector Deficit

Public Sector Deficit

A situation in which government spending of money exceeds taxes collected. That is, a public sector deficit occurs when a government spends more than it receives in a given period of time, usually a year. The deficit adds to the government's debt, and, therefore, many analysts believe that public sector deficits are unsustainable over the long-term. See also: Surplus.
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We have to ensure that our public sector deficit remains manageable," he added.
We may be risking a credit rating downgrade as a result of this unmanageable public sector deficit,' Diokno said.
The OBR still expects the public sector deficit to fall, but probably not fast enough to meet the government's target of a balanced budget by the middle of the next decade.
The SMP also recognizes that to provide the resources for increasing public investment and raising economic growth over the medium term, it is vital to bring an end to the large losses arising from the operations of the public electricity utility EDH, which in recent years have been responsible for approximately half of the public sector deficit.
Closing this deficit is ultimately more important than dealing with the public sector deficit.
There is little point in fiscal prudence without procurement reform if we are to reduce the public sector deficit.
Martin Beck, senior economic adviser to the EY ITEM Club, said: "Today's figures mean that the public sector deficit has now fallen in each month of 2015 with another month of strong growth in tax receipts boosting the UK's fiscal position.
The government's fiscal targets for 2014 envisage a further decline in the overall public sector deficit to 4.
The Cyprus government has had to endure harsh austerity measures after years of uncontrolled spending that sent the public sector deficit spiralling to nearly twice the national output.
It is therefore important that the private savings improvement be maintained, and that the public sector deficit continues to reduce.
Due to the restrictive policies of expenditure management, it is estimated that the public sector deficit from 1.
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