eelarvepuudujäägist

Eelarvepuudujääk refers to a situation where government expenditures exceed its revenues within a specific fiscal period. This shortfall means that the government has spent more money than it has collected through taxes, fees, and other income sources. When a budget deficit occurs, the government typically needs to borrow money to cover the difference. This borrowing can be done through issuing bonds or other forms of debt, which then adds to the national debt.

Persistent budget deficits can lead to an increase in a country's overall debt burden. This can have several economic consequences, including potentially higher interest rates, reduced government spending on public services in the future to service the debt, and a greater reliance on foreign creditors. Conversely, a budget surplus occurs when revenues exceed expenditures, allowing the government to pay down debt or save for future needs.

Governments aim to manage their budgets to avoid large or persistent deficits. Fiscal policies are employed to either increase revenue, such as by raising taxes, or to decrease spending, such as by cutting programs. The ideal is a balanced budget, where revenues and expenditures are equal, though this is rarely achieved consistently. The causes of budget deficits can range from economic downturns that reduce tax revenues to increased spending on social programs, infrastructure projects, or defense. Understanding the causes and consequences of eelarvepuudujääk is crucial for economic stability and effective governance.