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Budget Deficit
The situation where a government's expenditures exceed its revenues over a specific period of time, leading to a need for borrowing or spending cuts.
Budget Surplus
The situation in which a government's revenues exceed its expenditures during a given period, indicating financial health.
Public Saving
The portion of national saving that is accumulated by the government sector, often reflected as the difference between government revenues and expenditures.
National Saving
The total amount of savings generated within a country, which is the sum of private savings by households and businesses plus public savings from the government’s budget.
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