structural deficit

structural +‎ deficit

structural deficit (plural structural deficits)

1. (economics) That portion of the public sector deficit which exists even when the economy is at potential. Government spending beyond government revenues at times of normal, predictable economic activity, as opposed to a cyclical deficit.
   • 2010 March 11, Nirmala Menon, “Canada Budget Officer Still Sees Structural Deficit”, in Wall Street Journal Newswire‎:

     Canadian Parliamentary Budget Officer Kevin Page maintained that the government has a structural budget deficit which will only decline gradually to C$13.7 billion in 2014/15 in spite of C$17.6 billion in cost savings announced by the government last week.