Fiscal deficit :
When a government's total expenditures exceed the revenue that it generates (excluding money from borrowings). Deficit differs from debt, which is an accumulation of yearly deficits.
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Government deficit or surplus is the difference between government receipts (mainly tax revenue) and government spending (i.e. salaries of government employees, social benefits, interest on the public debt) in a single year. A deficit occurs when the outlays of a government exceed the inlays; a surplus is when revenues are higher than expenditure. This ratio is usually presented as a percent of gross domestic product (GDP).
Debt to GDP ratio:
A measure of a country's federal debt in relation to its gross domestic product (GDP). By comparing what a country owes to what it produces, the debt-to-GDP ratio indicates the country's ability to pay back its debt.