deficit
n. countablen. the amount by which a sum of money is too small. You use this when a government or business spends more than it earns.
n. the amount by which expenditures exceed income or assets in a given period. Often used in macroeconomic contexts to describe a shortfall in a budget or trade balance.
The government is trying to reduce the budget deficit.
After years of heavy spending on infrastructure, the city council faced a significant budget deficit that required tax increases.
Economists argue whether a persistent trade deficit reflects a lack of domestic competitiveness or simply a high level of national consumption fueled by foreign investment.
From French déficit, from Latin dēficit.
Commonly used with the prepositions 'in' (a deficit in the budget) or 'of' (a deficit of ten million dollars).
The company has a deficit of skills.The company has a deficiency of skills.While 'deficit' refers to a shortfall in money or numbers, 'deficiency' is the correct term for a lack of quality or necessary skills.