Macroeconomics · Explainer · 3 min · 22.09.2026 09:15
The budget deficit, simply
The deficit is the amount by which spending exceeds revenue. Debt is the accumulated history of that gap.
The state raises most of its revenue from taxes. Spending is pensions, wages, infrastructure, and interest on debt.
One year’s deficit adds new debt. The burden depends on how fast the economy grows and what interest the state pays.
A deficit is not, by itself, a danger or a virtue. What matters is whether the spending builds future capacity or only fills today’s hole.
