Roughly defined as the positive difference between government revenues and expenditures; a negative difference is referred to as a primary deficit. A primary surplus thus means that revenues are sufficient to finance core expenditures and, in addition, part of the interest burden. – A primary deficit, on the other hand, indicates that revenues are insufficient to pay for core expenditures. – See deficit ratio, fiscal policy, early warning law, monetary policy, peer pressure, budget deficit, budget pre-reconciliation, European, sustainability, debt ratio, solidarity, financial, government debt, Stability and Growth Pact. – Cf. ECB Monthly Bulletin, June 2010, pp. 103 et seqq. (primary surplus in EU countries compared).
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