Balance-of-payments Problem (Noun)
Meaning
An economic problem caused by payments for imports being greater than receipts for exports.
Classification
Nouns denoting natural processes.
Examples
- The country's balance-of-payments problem worsened due to a significant increase in oil imports.
- The government introduced trade reforms to address the persistent balance-of-payments problem.
- Economists agree that the country's reliance on foreign aid is temporarily masking its severe balance-of-payments problem.
- Economic forecasts indicate that the balance-of-payments problem will deteriorate further unless export growth accelerates.
- The central bank is facing significant challenges in trying to resolve the nation's deepening balance-of-payments problem through monetary policy adjustments.