Meaning of “state budget deficit” in the English Dictionary

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"state budget deficit" in Business English

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state budget deficitnoun [ C ]

uk us

ECONOMICS, GOVERNMENT in the US, an amount of extra money that the government of a state needs because it has spent more money than it received in taxes, etc.:

She inherited a $2 billion state budget deficit when she took office.

(Definition of “state budget deficit” from the Cambridge Business English Dictionary © Cambridge University Press)