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English definition of “deficit”

deficit

noun [C]     /ˈdef.ɪ.sɪt/
C1 the total amount by which money spent is more than money received : The country is running a balance-of-payments/ budget / trade deficit of $250 million. The UK's deficit in manufactured goods fell slightly in the last three months .Profits and losses
(Definition of deficit noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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