deficitnoun [ C ]uk /ˈdef.ɪ.sɪt/ us /ˈdef.ə.sɪt/
- There are many priorities, but reducing the budget deficit is paramount/is of paramount importance.
- By late in the first half United were staring at a seven-goal deficit and almost certain defeat.
- The UK trade deficit widened/narrowed last month.
- The government claimed they were doing a good job of reducing the country's trade deficit and balancing the budget.
- The deficit has been rising in recent years because of a drop in earnings from oil, the country's main export.