Twin Deficit Problem
In its recently released monthly economic report, the finance ministry expressed concern about the re-emergence of the twin deficit problem in the economy due to higher commodity prices and rising subsidy burden.
About Twin Deficit
- Twin deficit refer to an increased fiscal and current account deficit.
- A fiscal deficit is a budget shortfall. The fiscal deficit is essentially the amount of money that the government has to borrow in any year to fill the gap between its expenditures and revenues.
- A current account deficit means a country is sending more money overseas for goods and services than it is receiving.
- The current account ....
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