def ‧ i ‧ cit /ˈdefəsət, ˈdefɪsət/ BrE AmE noun [countable]
[ Date: 1700-1800 ; Language: French ; Origin: déficit , from Latin deficit 'it lacks' , from deficere ; ⇨ ↑ defect 1 ]
the difference between the amount of something that you have and the higher amount that you need ⇨ shortfall :
the country’s widening budget deficit
the US’s foreign trade deficit
deficit of
a deficit of £2.5 million
deficit in
Many countries have a big deficit in food supply.
in deficit
The US balance of payments was in deficit.
• • •
COLLOCATIONS
■ ADJECTIVES/NOUN + deficit
▪ huge/massive (=very big)
The recession left the Government with a massive deficit.
▪ a growing deficit (=becoming bigger)
Congress must slash federal spending to curb a growing deficit.
▪ a budget deficit
Last year there was a budget deficit of US $70,000,000.
▪ a trade deficit (=the difference between the amount of goods a country imports and the amount it exports)
Last year the country had its largest trade deficit in recent history.
■ verbs
▪ have a deficit
We had a trade deficit of more than $4 billion.
▪ show a deficit
Friday's trade figures showed a £10 billion deficit.
▪ face a deficit
The party is facing a deficit of £1.3million for this year, so it must find ways of cutting its costs.
▪ reduce/cut a deficit
We must drastically cut our budget deficit to sustain economic growth.
▪ eliminate a deficit (=completely get rid of it)
His proposals have so far failed to eliminate the deficit.