GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Fiscal Surplus


Synonyms:budget surplus, economic surplus, financial surplus
Filed Under: financial-banking, taxation
Tags: banking, taxes
 

Definition of fiscal surplus

fiscal surplus
1. When the government receives more in revenue than it spends over the course of the year.

Related Terms and Acronyms:

  • deficit   When expenses surpass income or liabilities surpass assets.
  • economic growth   The rate of change in output from one year to the next.
  • fiscal deficit   When the government spends more money than it receives in revenue over the course of one year.
  • fiscal policy   The use of government spending and taxation policies to influence the economy.
  • gross domestic product (GDP)   The total value of all the goods and services produced by the Canadian economy in a single year.
  • North American Free Trade Agreement (NAFTA)   An agreement between the United States, Canada, and Mexico that allows for freer trade between the three countries.
  • surplus   When an entity's income exceeds its expenses.

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