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Therefore, budget deficits, by definition, are equivalent to adding net financial assets to the private sector, whereas budget surpluses remove financial assets from the private sector. When a governmental entity has revenues from taxes, fees, and other impositions which exceed its budgeted outlays, it is said to have a budget surplus. The amount by which revenue exceeds expenditures. The term often refers to a government's financial state, as individuals have "savings" rather … Definition and synonyms of surplus from the online English dictionary from Macmillan Education. Individuals prefer to call a surplus “savings.” When the economy is doing well, there is less demand for government services since more people are employed. A company must have a budget surplus in order to make a profit. "Meanwhile, the Conservatives' slim majority in the House of Commons likely means it will be impossible for the Chancellor to get political support for a further intensification of austerity in order to obtain a, Even at the conservative oil price assumption of $65 a barrel, Qatar had projected a, The report, issued by the research department of Jadwa Investment Company, said this year's, non-investment related social spending such as the welfare state, to be in a position to produce an annual, M2 EQUITYBITES-January 15, 2014-Greece expected to meet target of primary, BANKING AND CREDIT NEWS-January 15, 2014-Greece expected to meet target of primary, The world's largest oil exporter also expected to conclude this year with a, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, Omnibus Budget Reconciliation Act of 1993, Enormous deficit in tax collection deprives provinces of Rs192 billion, State budget deficit expected at 1.7% of GDP in 2019: EDB, Chancellor faces uphill struggle to balance the books, Qatar is set for budget surplus despite oil dip, KSA boom: Revenues to exceed SR1.17 trillion, Greece achieves 1.8-billion-euro budget surplus in first half of 2014, Gov't posts another budget surplus in May, January budget spending surges 16.4 pct to TL 36 bln, Kuwait's budget surplus erodes in first nine months of fiscal year, Greece expected to meet target of primary budget surplus, Saudi announces record $228b budget for 2014, Budget Reduction Reallocation and Revenue Generation, Budget Resource Information Management System, Budget Transparency and Accountability Act. Federal Surplus refers to the federal government's budget surplus that results when the government spends less in a fiscal year than it receives in revenue. 'All Intensive Purposes' or 'All Intents and Purposes'? Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). 5, The budget surplus of A$8,107 million was the fourth consecutive surplus, and would be used to reduce overseas debt. What made you want to look up budget surplus? A budget surplus occurs when income exceeds expenditures. Learn a new word every day. Definition: Budget surplus refers to the amount by which a company’s revenue exceeds its expenses. : more money than is needed to pay for planned expenses The state currently has a $3 million budget surplus. When the government’s revenue exceeds its … The opposite of a budget deficit is a budget surplus. Please tell us where you read or heard it (including the quote, if possible). A budget surplus means the opposite: in total, the government has removed more money and bonds from private holdings via taxes than it has put back in via spending. "Budget surplus" and "budget deficit" are terms most commonly used to describe a government's financial picture. Another word for surplus. A budget is a financial document, which forecast the future income and expenses, further it illustrates the ways in which income is going to be received, and how that received income is going to be shared or allocated among the expenses that are to be incurred. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Budget surplus is a phenomena that is opposite of budget deficit. Budget surpluses are quite rare in modern economies because of the temptation for politicians to spend more money and cut taxes. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! In both, the scenario money is flown in the economy and purchasing power increases. Only eight times in the past 60 years has Britain's budget been in surplus. U.S. reports record budget surplus for FY 1999 There had been speculation among some players that the BOJ would leave a smaller surplus in the market, because on Friday last week, the BOJ left a surplus of 700 billion yen, down from the 1 trillion yen surpluses it had left the 11 consecutive trading days before then. the amount of extra money available to a government because it has spent less money than it earned: The government has projected a budget surplus of £7 billion by April. A budget surplus occurs when tax revenue is greater than government spending. This term is most commonly used to refer to government spending, but it can also be applied to companies and individuals. However, businesses and even families can run surpluses and deficits, which come into play when planning financial strategies and investments. Define budget surplus. Budget surplus definition: the amount by which government income from taxation , customs duties , etc, exceeds... | Meaning, pronunciation, translations and examples Budget surplus is the amount by which a government's income which primarily comes from taxes and duties exceeds its total expenditures such as defense, social security, science, energy and expenditure on infrastructure, etc. Post the Definition of budget surplus to Facebook, Share the Definition of budget surplus on Twitter. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. https://financial-dictionary.thefreedictionary.com/budget+surplus. The opposite of a budget deficit is a budget surplus. Budget Surplus vs Budget Deficit. A budget surplus is where government brings in more money than it spends. Test Your Knowledge - and learn some interesting things along the way. 6, Interest rates can be cut and Bill Clinton's budget surplus spent. 'Nip it in the butt' or 'Nip it in the bud'. the amount of extra money that a government needs because it has spent more money than it earned: The White House says the federal government will run a $9 trillion budget deficit over the next decade. means the amount by which sums appropriated exceed actual expenditures and obligations for a fiscal year; obligations and expenditures are held below the level of actual receipts creating savings within the authorized budget. budget surplus definition in English dictionary, budget surplus meaning, synonyms, see also 'Budget',budget for',budget account',budget deficit'. In other words, it will be divided equally the opposite of a $ 8,107 million was the fourth surplus. 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