A deficit in the government's budget balance means that the government is spending in excess of taxation revenue and the deficit is made good by borrowing, which adds to the national debt.
While borrowing for investment purposes is generally seen as wise, to do so to fund routine recurrent expenditure is not.
A country's current account records the value of exports and imports of both goods and services and international transfers of capital.
Current account measures the nation's earnings and spendings abroad and it consists of the balance of trade, net primary income or factor income (earnings on foreign investments minus payments made to foreign investors) and net unilateral transfers, that have taken place over a given period of time.
The current account balance is one of two major measures of a country's foreign trade (the other being the net capital outflow).