word
Primary Surplus
PRY-meh-ree SUR-plus
/ˈpraɪməriː ˈsɜːrpləs/Listen
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Syllable breakdown
primarysurplus
Dictionary meaning
The government budget surplus remaining after excluding interest payments on existing debt; the primary surplus shows whether current revenues cover current spending before the burden of past borrowing is taken into account
Examples
- Greece was required to maintain a primary surplus of 3.5% of GDP as a condition of its bailout programme.
- A sustained primary surplus is necessary but not sufficient to reduce the debt-to-GDP ratio if interest rates exceed growth.
Synonyms: non-interest surplus, underlying surplus, fiscal primary balance
Pronunciation tips
Five syllables; stress the first and fourth: PRI- and SUR-
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