current account deficit
KER-unt ah-KOWNT DEF-ih-sit
ˈkɜːrənt əˈkaʊnt ˈdɛfɪsɪtListen
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Dictionary meaning
a situation in which a country imports more goods, services, and income than it exports, resulting in a net outflow of money from the domestic economy; the current account encompasses trade in goods, trade in services, income flows from investments abroad, and current transfers; a current account deficit must be financed by capital inflows from abroad, meaning the country borrows from or sells assets to foreign investors; persistent deficits can reflect underlying competitiveness problems or, in some cases, healthy economic growth attracting foreign investment
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