underskudd

Underskudd is a term used in economics and public finance to describe a situation where resources are insufficient to cover required or planned spending. In practice it most often refers to a negative balance in financial statements, such as a government budget, a company’s income statement, or a current account. While the word is closely associated with deficits within public finances, it can also describe shortfalls in other contexts, such as household budgets or trade balances.

In government finance, an underskudd or budget deficit occurs when a government’s revenues are smaller than its expenditures over a given period. The deficit is typically financed by borrowing, which increases public debt. A distinction is made between the overall deficit and the primary deficit, the latter excluding interest payments on existing debt. Deficits can be temporary or persistent, and policies to address them may involve adjusting taxes, reducing spending, or modifying the timing of spending and revenue collection.

In business and households, an underskudd or operating deficit happens when costs exceed revenues in a period. Causes can include weak sales, high fixed costs, or increased operating expenses. Sustained deficits are generally viewed as problematic unless they serve a strategic purpose, such as investment in growth or economic stabilization.

Key indicators used to assess underskudd include the budget balance as a share of GDP, the debt-to-GDP ratio, and for trade, the current account balance. Economic context matters: deficits can support countercyclical policy during recessions but may pose sustainability concerns if they persist without improvement.