|
| | Select Variable
| GDP, constant prices
Natl currency |
| | GDP, constant prices *
% chg
| | GDP, current prices *
Natl currency |
| | GDP, current prices *
U.S. $s |
| | GDP, deflator
Index, 2000=100
| | GDP per capita, constant pri
Natl currency
| | GDP per capita, current pric
Natl currency
| | GDP per capita, current pric
U.S. $s
| | Output gap in percent of pot
% of potential GDP
| | GDP based on PPP valuation o
Current intl $ |
| | GDP based on PPP per capita
Current intl $
| | GDP based on PPP share of wo
%
| | Implied PPP conversion rate
Natl currency/$
| | Total investment
% of GDP
| | Gross national savings
% of GDP
| | Inflation, average consumer
Index
| | Inflation, average consumer
% chg
| | Inflation, end of period con
Index
| | Inflation, end of period con *
% chg
| | Six-month London interbank o
%
| | Volume of imports of goods a
% chg
| | Volume of Imports of goods
% chg
| | Volume of exports of goods a
% chg
| | Volume of exports of goods
% chg
| | Value of oil imports
U.S. $s |
| | Value of oil exports
U.S. $s |
| | Unemployment rate *
% of total labor force
| | Employment
Index, 2000=100
| | Population *
Persons |
| | Govt revenue
Natl currency |
| | Govt revenue
% of GDP
| | Govt total expenditure
Natl currency |
| | Govt total expenditure *
% of GDP
| | Govt net lending/borrowing
Natl currency |
| | Govt net lending/borrowing
% of GDP
| | Govt structural balance
Natl currency |
| | Govt structural balance
% of potential GDP
| | Govt primary net lending/bor
Natl currency |
| | Govt primary net lending/bor
% of GDP
| | Govt net debt
Natl currency |
| | Govt net debt
% of GDP
| | Govt gross debt
Natl currency |
| | Govt gross debt *
% of GDP
| | GDP corresponding to fiscal
Natl currency |
| | Current account balance
U.S. $s |
| | Current account balance
% of GDP | |
*_popular_variable.
|
|
Govt structural balance
GGSB
National currency | Billions The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf.
(f) = observation is an IMF forecast
| | cntry code | variable cd | country
| data for
all years
| 1980
| 1981
| 1982
| 1983
| 1984
| 1985
| 1986
| 1987
| 1988
| 1989
| 1990
| 1991
| 1992
| 1993
| 1994
| 1995
| 1996
| 1997
| 1998
| 1999
| 2000
| 2001
| 2002
| 2003
| 2004
| 2005
| 2006
| 2007
| 2008
| 2009
| 2010
| 2011
| 2012
| 2013
| 2014
| 2015
| 2016
| 2017
| | 6 | ARG | 213 | GGSB |
Argentina National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -8.738 | -10.20 | -40.19 | -13.55 | -16.70 | -7.026 | -0.0330 | -15.54 | -11.01 | -19.77 | -9.847 | -59.83(f) | -64.01(f) | -49.64(f) | -65.33(f) | -11.23(f) | -14.41(f) | -9.847(f)
| | 8 | AUS | 193 | GGSB |
Australia National currency | Billions | 1990-2011 | | | | | | | | | | | -1.871 | -7.658 | -16.01 | -18.07 | -15.43 | -10.46 | -4.653 | 0.4590 | 0.8750 | 5.872 | 11.57 | 7.484 | 8.937 | 14.06 | 18.30 | 23.94 | 18.72 | 11.16 | -12.43 | -51.20 | -62.60 | -59.10 | -37.65(f) | -11.61(f) | -4.880(f) | 2.802(f) | 11.21(f) | 17.44(f)
| | 9 | AUT | 122 | GGSB |
Austria National currency | Billions | 1980-2011 | -1.502 | -0.6960 | -2.112 | 3.416 | -1.221 | -1.295 | -2.915 | -4.467 | -3.004 | -3.985 | -4.511 | -5.659 | -3.984 | -5.851 | -7.700 | -9.880 | -7.176 | -3.374 | -4.707 | -6.028 | -7.920 | -2.758 | -2.752 | -2.654 | -4.750 | -4.939 | -6.958 | -7.183 | -6.603 | -8.310 | -10.39 | -7.162 | -7.527(f) | -6.188(f) | -5.633(f) | -4.670(f) | -4.327(f) | -4.323(f)
| | 16 | BEL | 124 | GGSB |
Belgium National currency | Billions | 1981-2011 | | -14.43 | -12.34 | -15.77 | -12.60 | -12.43 | -12.84 | -10.42 | -10.38 | -11.92 | -13.69 | -15.19 | -16.45 | -12.48 | -9.236 | -8.559 | -6.449 | -4.662 | -1.218 | -2.493 | -1.403 | 0.6970 | 0.3900 | 8.273 | -1.463 | 0.0340 | -0.9350 | -3.587 | -6.424 | -15.41 | -12.48 | -13.64 | -8.030(f) | -5.067(f) | -2.341(f) | -0.0360(f) | -0.1820(f) | 0.2090(f)
| | 21 | BIH | 963 | GGSB |
Bosnia and Herzegovina National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -0.8650 | -0.7990 | -0.1910 | 0.0720 | 0.0320 | 0.2290 | 0.4450 | -0.0460 | -1.078 | -1.165 | -0.9330 | -0.6660(f) | -0.7510(f) | -0.3700(f) | -0.1050(f) | -0.0770(f) | 0.0520(f) | 0.1400(f)
| | 23 | BRA | 223 | GGSB |
Brazil National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -41.94 | -33.16 | -65.15 | -78.60 | -58.04 | -73.21 | -79.26 | -81.70 | -64.96 | -86.77 | -141.99 | -133.36 | -113.60(f) | -113.51(f) | -119.43(f) | -136.81(f) | -143.22(f) | -162.17(f)
| | 25 | BGR | 918 | GGSB |
Bulgaria National currency | Billions | 2001-2011 | | | | | | | | | | | | | | | | | | | | | | 0.2610 | 0.4230 | 0.5080 | 0.9160 | 0.8790 | 0.9310 | 0.2420 | -0.1620 | -0.2890 | -1.052 | 0.8720 | 1.065(f) | 1.411(f) | 2.002(f) | 2.369(f) | 2.704(f) | 2.817(f)
| | 30 | CAN | 156 | GGSB |
Canada National currency | Billions | 1980-2011 | -15.90 | -14.29 | -18.68 | -23.83 | -29.98 | -40.80 | -35.54 | -32.74 | -35.48 | -39.84 | -45.75 | -49.02 | -52.58 | -53.76 | -52.45 | -44.64 | -17.09 | 8.219 | 4.478 | 10.21 | 15.97 | 0.3140 | -8.058 | -3.566 | 4.671 | 11.65 | 11.20 | 8.219 | -8.991 | -40.25 | -67.97 | -62.35 | -51.14(f) | -41.69(f) | -31.80(f) | -23.84(f) | -14.53(f) | -13.15(f)
| | 34 | CHL | 228 | GGSB |
Chile National currency | Billions | 2001-2011 | | | | | | | | | | | | | | | | | | | | | | 296.36 | 155.80 | 288.86 | 311.43 | 242.08 | 544.62 | -95.42 | -985.86 | -4083.39 | -2220.27 | -1383.63 | -2128.50(f) | -1861.33(f) | -1500.50(f) | -1319.84(f) | -1329.24(f) | -1312.77(f)
| | 35 | CHN | 924 | GGSB |
China National currency | Billions | 1997-2011 | | | | | | | | | | | | | | | | | | -137.50 | -237.69 | -331.85 | -258.81 | -201.14 | -219.84 | -177.65 | -45.20 | -57.01 | 33.42 | 304.44 | -10.97 | -851.84 | -614.14 | -16.52 | 14.28(f) | 109.67(f) | 204.08(f) | 389.85(f) | 539.43(f) | 658.45(f)
| | 36 | COL | 233 | GGSB |
Colombia National currency | Billions | 2004-2009 | | | | | | | | | | | | | | | | | | | | | | | | | -3833.63 | 210.19 | -4164.61 | -6444.45 | -10084.05 | -3722.79 | -12143.16(f) | -15584.80(f) | -12412.74(f) | -12149.77(f) | -12429.27(f) | -12797.80(f) | -13984.98(f) | -13369.25(f)
| | 43 | CYP | 423 | GGSB |
Cyprus National currency | Billions | 1995-2010 | | | | | | | | | | | | | | | | -0.1440 | -0.2670 | -0.3780 | -0.3720 | -0.4520 | -0.2690 | -0.2920 | -0.5230 | -0.8910 | -0.6110 | -0.4130 | -0.4490 | -0.2560 | -0.3700 | -1.025 | -0.9330 | -1.015(f) | -0.3900(f) | 0.0750(f) | 0.2830(f) | 0.1860(f) | 0.1140(f) | 0.0370(f)
| | 44 | CZE | 935 | GGSB |
Czech Republic National currency | Billions | 1995-2010 | | | | | | | | | | | | | | | | -181.26 | -51.03 | -61.63 | -88.20 | -62.62 | -77.19 | -130.46 | -153.81 | -171.28 | -67.51 | -97.75 | -94.60 | -63.59 | -118.92 | -174.78 | -150.10 | -122.10(f) | -92.69(f) | -93.96(f) | -103.85(f) | -113.56(f) | -124.19(f) | -136.32(f)
| | 45 | DNK | 128 | GGSB |
Denmark National currency | Billions | 1988-2010 | | | | | | | | | 9.802 | 5.287 | -3.732 | -0.4520 | 4.146 | -17.47 | -24.19 | -23.34 | -18.82 | -12.27 | -6.756 | 4.235 | -2.005 | -3.424 | -3.103 | 23.72 | 21.90 | 17.67 | 9.212 | 29.65 | 36.36 | 5.538 | -11.04 | -11.92(f) | -17.23(f) | -4.173(f) | 2.240(f) | -5.547(f) | 1.356(f) | 11.59(f)
| | 48 | DOM | 243 | GGSB |
Dominican Republic National currency | Billions | 1997-2010 | | | | | | | | | | | | | | | | | | -3.207 | -2.458 | -4.552 | -6.757 | -7.115 | -8.052 | -27.12 | -28.01 | -7.736 | -18.62 | -6.478 | -56.36 | -58.62 | -47.29 | -54.38(f) | -54.89(f) | -60.73(f) | -65.37(f) | -73.12(f) | -81.58(f) | -90.98(f)
| | 49 | ECU | 248 | GGSB |
Ecuador National currency | Billions | 2001-2010 | | | | | | | | | | | | | | | | | | | | | | 4.915 | 4.381 | 4.500 | 4.498 | 2.684 | 5.472 | 4.088 | 1.374 | -3.223 | -0.4020 | -0.6660(f) | -0.6510(f) | -0.2170(f) | -0.9330(f) | -1.371(f) | -1.524(f) | -1.405(f)
| | 50 | EGY | 469 | GGSB |
Egypt National currency | Billions | 2006-2011 | | | | | | | | | | | | | | | | | | | | | | | | | | | -56.25 | -56.65 | -71.40 | -71.11 | -94.23 | -133.43 | -146.05(f) | -127.28(f) | -122.95(f) | -116.13(f) | -95.17(f) | -77.87(f)
| | 57 | FIN | 172 | GGSB |
Finland National currency | Billions | 1980-2010 | -0.7460 | 0.2780 | -0.1670 | -1.127 | -0.3840 | -0.4360 | -0.1230 | -1.907 | -0.2910 | -0.2100 | 2.043 | -0.3430 | -1.605 | -2.573 | -2.532 | -3.296 | -1.317 | -1.444 | 1.036 | 2.077 | 8.434 | 7.208 | 6.985 | 5.039 | 3.632 | 4.427 | 5.432 | 5.586 | 5.608 | 2.588 | -0.2730 | 1.059(f) | 1.417(f) | 1.679(f) | 1.468(f) | 1.019(f) | 0.9510(f) | 0.8140(f)
| | 58 | FRA | 132 | GGSB |
France National currency | Billions | 1980-2010 | -5.869 | -13.02 | -17.28 | -15.11 | -15.53 | -17.80 | -21.21 | -12.80 | -28.25 | -31.19 | -38.00 | -40.36 | -53.37 | -57.72 | -50.68 | -56.15 | -32.63 | -28.98 | -33.79 | -30.73 | -38.14 | -38.39 | -52.53 | -55.49 | -51.24 | -48.83 | -41.07 | -55.72 | -56.85 | -95.57 | -91.21 | -69.86(f) | -53.76(f) | -42.24(f) | -36.81(f) | -29.39(f) | -17.54(f) | -4.366(f)
| | 60 | GMB | 648 | GGSB |
The Gambia National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | 0.0630 | 0.0670 | -0.3100 | -0.2420 | -0.6020 | -0.8540 | -0.9520 | -0.6190 | -0.6430 | -0.5750 | -1.414 | -1.760 | -1.852(f) | -1.995(f) | -2.135(f) | -2.089(f) | -2.044(f) | -2.044(f)
| | 61 | GEO | 915 | GGSB |
Georgia National currency | Billions | 2004-2010 | | | | | | | | | | | | | | | | | | | | | | | | | 0.1860 | -0.2110 | -0.5540 | -1.132 | -1.882 | -1.591 | -1.542 | -1.152(f) | -1.048(f) | -1.005(f) | -0.9910(f) | -0.8540(f) | -0.6790(f) | -0.6390(f)
| | 62 | DEU | 134 | GGSB |
Germany National currency | Billions | 1991-2011 | | | | | | | | | | | | -47.50 | -40.72 | -26.94 | -27.72 | -50.65 | -48.29 | -41.76 | -36.93 | -28.22 | -32.58 | -57.80 | -66.03 | -68.44 | -73.72 | -59.38 | -51.98 | -26.78 | -20.99 | -29.55 | -56.54 | -26.22 | -15.94(f) | -12.96(f) | -6.322(f) | -4.889(f) | -4.689(f) | -3.978(f)
| | 64 | GRC | 174 | GGSB |
Greece National currency | Billions | 1988-2010 | | | | | | | | | -3.081 | -4.816 | -6.329 | -5.900 | -7.393 | -8.268 | -6.755 | -5.407 | -5.576 | -5.530 | -3.433 | -2.422 | -3.739 | -5.777 | -8.312 | -11.62 | -15.69 | -14.97 | -18.34 | -20.96 | -26.98 | -38.76 | -22.67 | -15.18(f) | -10.15(f) | -6.082(f) | -2.558(f) | -2.856(f) | -2.728(f) | -2.305(f)
| | 68 | GNB | 654 | GGSB |
Guinea-Bissau National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -10.60 | -14.24 | -14.38 | -16.86 | -21.52 | -18.72 | -14.43 | -19.26 | -14.42 | 7.077 | -3.692 | -2.903 | -2.927(f) | -2.144(f) | -2.590(f) | -2.866(f) | -3.255(f) |
| | 69 | GUY | 336 | GGSB |
Guyana National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -22.77 | -25.68 | -24.47 | -22.77 | -20.42 | -32.85 | -38.79 | -31.17 | -33.07 | -22.63 | -15.97 | -27.52(f) | -32.57(f) | -32.43(f) | -32.83(f) | -33.38(f) | -31.89(f) | -33.86(f)
| | 72 | HKG | 532 | GGSB |
Hong Kong SAR National currency | Billions | 1985-2010 | | | | | | 8.157 | 9.578 | 12.73 | 14.59 | 5.841 | 10.07 | 18.90 | 21.63 | 13.61 | 9.731 | 6.878 | 8.682 | 20.49 | -41.16 | -28.68 | -40.68 | -43.50 | -55.29 | -36.73 | -32.28 | -18.96 | 6.673 | 26.43 | 3.357 | -37.55 | -24.59 | -41.98(f) | -52.68(f) | -45.13(f) | -39.48(f) | -88.62(f) | -15.88(f) | -10.04(f)
| | 73 | HUN | 944 | GGSB |
Hungary National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -375.72 | -621.45 | -1466.45 | -1333.98 | -1405.79 | -2007.60 | -2444.97 | -1379.98 | -1334.83 | -717.59 | -1302.87 | -1314.64(f) | -651.42(f) | -783.57(f) | -896.44(f) | -894.33(f) | -890.13(f) | -918.43(f)
| | 74 | ISL | 176 | GGSB |
Iceland National currency | Billions | 1980-2011 | 0.2220 | 0.2400 | 0.6640 | -0.2430 | 3.199 | -0.6760 | -6.722 | -6.584 | -9.569 | -17.34 | -15.44 | -3.653 | 0.1800 | -9.631 | -13.63 | -1.394 | 2.077 | 7.256 | -0.5840 | 8.427 | 11.48 | -5.559 | -5.377 | 3.978 | 9.448 | 28.83 | 55.74 | 40.91 | -65.71 | -114.74 | -60.04 | -66.91 | -42.58(f) | -35.02(f) | -12.91(f) | 10.33(f) | 17.81(f) | 23.93(f)
| | 75 | IND | 534 | GGSB |
India National currency | Billions | 1996-2010 | | | | | | | | | | | | | | | | | -1045.23 | -1167.10 | -1613.00 | -2020.58 | -2284.82 | -2456.54 | -2519.63 | -2581.52 | -2266.16 | -2358.85 | -2185.74 | -2662.62 | -5042.20 | -6578.06 | -7104.09 | -7752.48(f) | -8500.50(f) | -9659.79(f) | -10820.01(f) | -12050.19(f) | -13540.34(f) | -14718.32(f)
| | 76 | IDN | 536 | GGSB |
Indonesia National currency | Billions | 2004-2010 | | | | | | | | | | | | | | | | | | | | | | | | | -15471.38 | 15430.61 | 6467.64 | -46037.79 | -8795.09 | -95234.02 | -76665.02 | -119210.10(f) | -81690.70(f) | -99660.53(f) | -111109.00(f) | -128477.80(f) | -157768.50(f) |
| | 79 | IRL | 178 | GGSB |
Ireland National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | 1.971 | -2.032 | -3.074 | -2.247 | -3.348 | -5.252 | -7.673 | -14.18 | -20.57 | -17.97 | -16.03 | -12.94 | -10.13(f) | -9.061(f) | -6.423(f) | -4.395(f) | -4.454(f) | -4.474(f)
| | 80 | ISR | 436 | GGSB |
Israel National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -21.09 | -25.49 | -20.60 | -31.03 | -20.17 | -11.44 | -9.256 | -13.25 | -28.41 | -41.50 | -35.46 | -36.29(f) | -31.48(f) | -24.90(f) | -23.57(f) | -22.45(f) | -22.15(f) | -21.91(f)
| | 81 | ITA | 136 | GGSB |
Italy National currency | Billions | 1988-2011 | | | | | | | | | -62.95 | -65.16 | -84.97 | -90.59 | -83.93 | -74.17 | -70.81 | -71.17 | -69.07 | -39.03 | -36.24 | -20.48 | -35.77 | -58.95 | -62.14 | -69.97 | -69.78 | -72.24 | -58.68 | -48.09 | -54.20 | -57.83 | -52.33 | -47.21 | -6.086(f) | 9.637(f) | 4.875(f) | 0.3630(f) | -5.595(f) | -8.879(f)
| | 83 | JPN | 158 | GGSB |
Japan National currency | Billions | 1994-2010 | | | | | | | | | | | | | | | -16664.36 | -21934.85 | -27503.86 | -22802.34 | -25634.28 | -33040.07 | -36876.07 | -27913.22 | -34613.55 | -35965.83 | -28801.86 | -16094.03 | -17785.47 | -11219.23 | -18084.01 | -37495.39 | -39254.91 | -39954.85(f) | -42703.50(f) | -39199.23(f) | -37103.82(f) | -37281.92(f) | -38120.73(f) | -38868.63(f)
| | 84 | JOR | 439 | GGSB |
Jordan National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -0.2050 | -0.1430 | -0.1740 | 0.1820 | -0.0280 | -0.4080 | -0.4100 | -0.8390 | -1.131 | -1.782 | -1.206 | -1.362(f) | -1.373(f) | -1.217(f) | -1.053(f) | -0.9170(f) | -0.7950(f) | -0.7580(f)
| | 85 | KAZ | 916 | GGSB |
Kazakhstan National currency | Billions | 2002-2011 | | | | | | | | | | | | | | | | | | | | | | | 40.81 | 126.73 | 145.41 | 438.65 | 688.68 | 468.57 | 96.91 | -626.86 | 16.32 | 1219.85 | 1063.63(f) | 1246.20(f) | 1103.78(f) | 1173.09(f) | 1246.29(f) | 1513.36(f)
| | 88 | KOR | 542 | GGSB |
Korea National currency | Billions | 1995-2010 | | | | | | | | | | | | | | | | 8612.77 | 9259.86 | 9725.49 | 12850.87 | 8717.99 | 26106.51 | 18927.50 | 24216.14 | 13862.86 | 1404.77 | 9319.66 | 10178.58 | 22586.80 | 18485.81 | 8054.06 | 20468.84 | 29788.61(f) | 31586.51(f) | 39118.57(f) | 42590.96(f) | 45243.02(f) | 48245.24(f) | 51315.66(f)
| | 94 | LBN | 446 | GGSB |
Lebanon National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -5981.52 | -4669.74 | -4364.37 | -3994.95 | -3227.87 | -2032.96 | -3018.25 | -3439.30 | -4302.00 | -6239.60 | -6417.43 | -7158.96 | -7601.21(f) | -8250.86(f) | -8872.53(f) | -9855.29(f) | -9855.29(f) | -9855.29(f)
| | 98 | LTU | 946 | GGSB |
Lithuania National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -1.391 | -1.652 | -0.9450 | -1.283 | -1.665 | -1.487 | -2.060 | -4.027 | -6.729 | -6.404 | -5.415 | -5.320 | -3.038(f) | -2.333(f) | -2.545(f) | -2.146(f) | -2.013(f) | -2.311(f)
| | 99 | LUX | 137 | GGSB |
Luxembourg National currency | Billions | 1995-2011 | | | | | | | | | | | | | | | | 0.1910 | 0.3060 | 0.7460 | 0.7230 | 0.6420 | 1.026 | 1.310 | 0.4680 | 0.3740 | -0.0530 | 0.1150 | 0.4090 | 0.7780 | 0.6760 | 0.1090 | -0.3360 | -0.2920 | -0.4670(f) | -0.7670(f) | -0.5930(f) | -0.7830(f) | -0.8380(f) | -0.8240(f)
| | 103 | MYS | 548 | GGSB |
Malaysia National currency | Billions | 1992-2010 | | | | | | | | | | | | | -1.321 | 0.2310 | 3.974 | 2.279 | 0.9170 | 3.820 | 1.796 | -11.11 | -21.00 | -16.67 | -20.95 | -20.67 | -20.55 | -18.95 | -21.27 | -21.92 | -35.34 | -40.10 | -46.80 | -45.88(f) | -44.13(f) | -45.63(f) | -50.76(f) | -57.74(f) | -63.27(f) | -63.27(f)
| | 105 | MLI | 678 | GGSB |
Mali National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -37.42 | -82.61 | -82.12 | -55.47 | -67.33 | -87.68 | -77.63 | -106.30 | -81.94 | -73.81 | -147.31 | -149.33 | -156.19(f) | -186.90(f) | -189.46(f) | -206.99(f) | -205.99(f) | -204.99(f)
| | 106 | MLT | 181 | GGSB |
Malta National currency | Billions | 2003-2009 | | | | | | | | | | | | | | | | | | | | | | | | -0.3870 | -0.1890 | -0.1840 | -0.1600 | -0.1960 | -0.3040 | -0.1950 | -0.2680(f) | -0.1890(f) | -0.1660(f) | -0.1410(f) | -0.1160(f) | -0.0910(f) | -0.0570(f) | -0.0240(f)
| | 108 | MUS | 684 | GGSB |
Mauritius National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -1.211 | -2.974 | -2.285 | -1.839 | -1.581 | -1.583 | -1.137 | 2.997 | 5.011 | 0.4640 | -0.8500 | -0.2950(f) | -5.044(f) | -4.593(f) | -4.144(f) | -4.758(f) | -2.863(f) | -1.386(f)
| | 113 | MAR | 686 | GGSB |
Morocco National currency | Billions | 1998-2010 | | | | | | | | | | | | | | | | | | | -2.916 | 1.631 | -7.093 | -7.129 | -5.618 | -4.521 | -3.808 | -6.246 | -1.397 | -0.0990 | -0.2960 | -2.309 | -4.737 | -5.893(f) | -4.670(f) | -4.098(f) | -3.826(f) | -3.797(f) | -3.732(f) | -4.005(f)
| | 118 | NLD | 138 | GGSB |
Netherlands National currency | Billions | 1981-2011 | | -11.38 | -10.25 | -8.327 | -10.83 | -9.391 | -11.66 | -12.61 | -9.930 | -14.54 | -17.57 | -10.82 | -13.05 | -6.017 | -7.832 | -23.81 | -2.787 | -3.246 | -4.556 | -2.967 | 2.091 | -8.548 | -10.26 | -10.96 | -4.310 | 2.300 | 0.4300 | -6.897 | -6.546 | -26.84 | -25.56 | -27.72 | -19.28(f) | -21.18(f) | -21.54(f) | -19.81(f) | -18.48(f) | -17.17(f)
| | 119 | NZL | 196 | GGSB |
New Zealand National currency | Billions | 1985-2011 | | | | | | -2.246 | -2.071 | -1.724 | -0.8180 | -0.5870 | -0.5120 | -1.856 | -1.583 | 0.5920 | 1.779 | 2.518 | 1.794 | 1.460 | 0.8400 | -0.0990 | 0.4900 | 1.624 | 2.455 | 2.872 | 3.778 | 4.805 | 4.275 | 3.642 | 0.5170 | -4.078 | -7.494 | -9.377 | -6.667(f) | -3.120(f) | -1.530(f) | 0.1720(f) | 1.404(f) | 1.516(f)
| | 123 | NOR | 142 | GGSB |
Norway National currency | Billions | 1980-2010 | -7.059 | -9.849 | -13.17 | -15.84 | -16.36 | -14.36 | -10.34 | -12.46 | -17.95 | -31.44 | -39.16 | -53.73 | -60.80 | -58.38 | -51.89 | -39.10 | -31.40 | -28.50 | -42.83 | -37.16 | -26.48 | -29.81 | -44.85 | -51.39 | -55.64 | -58.15 | -55.08 | -56.96 | -68.50 | -108.70 | -116.72 | -117.27(f) | -128.65(f) | -136.48(f) | -143.48(f) | -150.48(f) | -158.48(f) | -166.98(f)
| | 126 | PAN | 283 | GGSB |
Panama National currency | Billions | 1996-2011 | | | | | | | | | | | | | | | | | 0.1580 | 0.1810 | -0.0300 | 0.1380 | 0.3260 | 0.1770 | 0.1020 | 0.0420 | 0.0680 | 0.3930 | 0.8660 | 1.113 | 0.6420 | 0.5560 | 0.4780 | -0.0120 | -0.1090(f) | 0.1810(f) | 0.3800(f) | 0.6800(f) | 1.095(f) | 1.382(f)
| | 128 | PRY | 288 | GGSB |
Paraguay National currency | Billions | 2003-2011 | | | | | | | | | | | | | | | | | | | | | | | | -1766.99 | -1207.19 | -1557.24 | -2150.81 | -1936.54 | -946.91 | -2471.36 | -1852.06 | -2741.21 | -5842.59(f) | -5575.65(f) | -4287.00(f) | -3539.84(f) | -3172.00(f) | -2570.06(f)
| | 129 | PER | 293 | GGSB |
Peru National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -3.384 | -2.699 | -2.091 | -2.583 | -2.302 | -1.901 | 0.4620 | 4.898 | 2.884 | -3.331 | -4.757 | 4.500 | 3.016(f) | 3.327(f) | 4.850(f) | 6.648(f) | 7.644(f) | 8.216(f)
| | 131 | POL | 964 | GGSB |
Poland National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -14.40 | -26.20 | -29.52 | -46.12 | -50.99 | -38.78 | -43.16 | -31.96 | -58.45 | -93.52 | -111.28 | -83.30 | -52.01(f) | -44.24(f) | -43.54(f) | -36.19(f) | -36.81(f) | -35.48(f)
| | 132 | PRT | 182 | GGSB |
Portugal National currency | Billions | 1986-2010 | | | | | | | -2.163 | -2.381 | -1.368 | -1.657 | -4.680 | -5.956 | -4.560 | -5.757 | -5.142 | -3.293 | -4.103 | -3.259 | -4.037 | -3.602 | -5.185 | -6.569 | -6.367 | -7.009 | -7.912 | -8.650 | -6.489 | -6.374 | -8.323 | -15.26 | -14.55 | -10.08(f) | -4.273(f) | -1.542(f) | -1.957(f) | -2.431(f) | -3.416(f) | -3.780(f)
| | 134 | ROU | 968 | GGSB |
Romania National currency | Billions | 2004-2010 | | | | | | | | | | | | | | | | | | | | | | | | | -11.31 | -4.952 | -11.18 | -22.39 | -39.85 | -35.99 | -27.41 | -17.07(f) | -1.564(f) | 3.720(f) | 2.454(f) | 1.784(f) | 0.9330(f) | -0.1520(f)
| | 135 | RUS | 922 | GGSB |
Russia National currency | Billions | 1997-2011 | | | | | | | | | | | | | | | | | | -381.53 | -163.66 | -164.42 | 162.02 | 215.76 | 55.85 | 143.79 | 775.71 | 1761.40 | 2197.30 | 1978.23 | 1536.70 | -1406.27 | -1045.93 | 871.27 | 96.15(f) | -517.39(f) | -543.53(f) | -1329.19(f) | -2249.24(f) | -3210.78(f)
| | 140 | SEN | 722 | GGSB |
Senegal National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | 24.29 | -85.71 | 0.0720 | -51.98 | -131.65 | -135.91 | -278.69 | -197.60 | -273.23 | -292.04 | -333.70 | -440.54 | -409.48(f) | -343.55(f) | -369.63(f) | -347.46(f) | -363.33(f) | -379.55(f)
| | 141 | SRB | 942 | GGSB |
Serbia National currency | Billions | 2008-2010 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | -6.465 | -3.743 | -3.853 | -4.299(f) | -3.185(f) | -3.565(f) | -2.734(f) | -2.188(f) | -1.682(f) | -1.932(f)
| | 144 | SGP | 576 | GGSB |
Singapore National currency | Billions | 1990-2011 | | | | | | | | | | | 7.881 | 7.806 | 10.58 | 15.02 | 14.06 | 12.66 | 10.87 | 12.16 | 3.691 | 7.994 | 10.78 | 4.113 | 5.842 | 11.30 | 9.685 | 16.39 | 14.59 | 29.06 | 14.00 | -0.3450 | 14.61 | 22.78 | 18.81(f) | 19.84(f) | 19.90(f) | 19.88(f) | 19.80(f) | 19.68(f)
| | 145 | SVK | 936 | GGSB |
Slovak Republic National currency | Billions | 1997-2011 | | | | | | | | | | | | | | | | | | -1.620 | -1.473 | -1.858 | -3.626 | -2.128 | -3.038 | -1.127 | -1.049 | -0.9420 | -1.709 | -1.957 | -2.058 | -4.309 | -4.982 | -3.693 | -2.673(f) | -2.448(f) | -2.776(f) | -3.205(f) | -3.487(f) | -3.696(f)
| | 146 | SVN | 961 | GGSB |
Slovenia National currency | Billions | 1996-2011 | | | | | | | | | | | | | | | | | 0.0390 | -0.1370 | -0.0270 | -0.0640 | -0.1900 | -0.1210 | -0.1740 | -0.0720 | -0.1980 | -0.2450 | -0.5920 | -0.8890 | -1.430 | -1.794 | -1.768 | -1.251 | -1.060(f) | -0.9870(f) | -1.039(f) | -1.154(f) | -1.298(f) | -1.456(f)
| | 148 | ZAF | 199 | GGSB |
South Africa National currency | Billions | 2000-2010 | | | | | | | | | | | | | | | | | | | | | -13.23 | -8.448 | -9.686 | -17.33 | -13.53 | -3.438 | -1.567 | -3.829 | -50.23 | -122.70 | -120.86 | -125.55(f) | -122.36(f) | -115.64(f) | -112.74(f) | -102.43(f) | -82.02(f) | -57.79(f)
| | 149 | ESP | 184 | GGSB |
Spain National currency | Billions | 1980-2011 | -4.905 | -3.011 | -11.94 | -9.825 | -10.86 | -16.10 | -13.49 | -8.954 | -13.89 | -17.61 | -19.68 | -23.48 | -19.08 | -19.68 | -21.66 | -17.94 | -11.20 | -6.207 | -9.338 | -5.844 | -6.897 | -11.71 | -8.093 | -7.597 | -8.150 | -14.27 | -12.20 | -11.47 | -53.71 | -97.56 | -79.72 | -71.97 | -37.83(f) | -35.41(f) | -37.88(f) | -41.22(f) | -42.73(f) | -45.09(f)
| | 154 | SDN | 732 | GGSB |
Sudan National currency | Billions | 1999-2010 | | | | | | | | | | | | | | | | | | | | -0.2400 | -1.236 | -0.6070 | -0.7520 | -1.180 | -2.056 | -2.712 | -2.930 | -4.941 | -3.920 | -4.250 | -5.420 | -4.857(f) | -0.7510(f) | 0.1130(f) | 2.494(f) | 3.523(f) | 3.537(f) | 6.307(f)
| | 157 | SWE | 144 | GGSB |
Sweden National currency | Billions | 1993-2010 | | | | | | | | | | | | | | -181.81 | -191.72 | -180.22 | -108.92 | -90.84 | -52.80 | -59.86 | -35.10 | 35.93 | -24.14 | -6.145 | 14.20 | 53.56 | 72.70 | 75.13 | 33.35 | -39.12 | 35.42 | 8.170(f) | -6.926(f) | 17.46(f) | 51.04(f) | 68.09(f) | 95.74(f) | 124.30(f)
| | 158 | CHE | 146 | GGSB |
Switzerland National currency | Billions | 1983-2009 | | | | 1.327 | 1.494 | 1.033 | 3.192 | 4.070 | 2.947 | 0.8050 | -4.407 | -2.040 | -1.677 | -1.119 | -1.988 | -8.201 | -7.585 | -9.750 | -6.020 | -0.5890 | 7.840 | 0.6970 | -1.621 | -4.528 | -4.717 | -1.823 | 3.523 | 3.090 | 6.170 | 3.914 | 0.3030(f) | 1.134(f) | 1.204(f) | 1.512(f) | 3.344(f) | 3.477(f) | 3.601(f) | 3.613(f)
| | 160 | TWN | 528 | GGSB |
Taiwan Province of Chi National currency | Billions | 1980-2010 | -33.38 | -41.39 | -64.95 | -20.05 | -29.53 | -24.22 | -44.64 | -4.899 | 25.18 | -321.05 | -154.17 | -360.73 | -268.84 | -340.42 | -361.06 | -440.13 | -509.82 | -482.82 | -453.13 | -662.50 | -614.63 | -755.41 | -475.89 | -292.68 | -433.86 | -220.76 | -236.72 | -269.02 | -283.46 | -517.23 | -564.40 | -584.61(f) | -618.70(f) | -549.84(f) | -379.70(f) | -173.97(f) | -194.47(f) | -218.15(f)
| | 163 | THA | 578 | GGSB |
Thailand National currency | Billions | 1995-2011 | | | | | | | | | | | | | | | | 96.21 | 54.87 | -139.35 | -246.74 | -356.94 | -50.24 | -39.40 | -289.60 | 191.06 | 120.12 | 99.48 | 142.64 | -4.922 | -67.61 | -199.47 | -46.14 | -192.91 | -316.83(f) | -461.75(f) | -543.95(f) | -351.40(f) | -322.97(f) | -277.65(f)
| | 168 | TUN | 744 | GGSB |
Tunisia National currency | Billions | 1991-2011 | | | | | | | | | | | | -0.6500 | -0.6880 | -0.7270 | -0.7680 | -0.8090 | -0.8480 | -0.8830 | -0.9150 | -0.9460 | -0.9780 | -1.012 | -1.050 | -1.095 | -1.149 | -1.214 | -1.291 | -1.382 | -1.487 | -1.606 | -1.730 | -1.852 | -1.955(f) | -2.037(f) | -2.101(f) | -2.153(f) | -2.201(f) | -2.201(f)
| | 169 | TUR | 186 | GGSB |
Turkey National currency | Billions | 2002-2010 | | | | | | | | | | | | | | | | | | | | | | | -46.93 | -42.47 | -23.82 | -8.341 | -22.32 | -27.54 | -36.39 | -39.21 | -35.34 | -22.31(f) | -40.65(f) | -45.46(f) | -47.83(f) | -49.92(f) | -57.37(f) | -63.05(f)
| | 173 | UKR | 926 | GGSB |
Ukraine National currency | Billions | 2003-2010 | | | | | | | | | | | | | | | | | | | | | | | | -3.518 | -21.50 | -11.99 | -13.74 | -28.34 | -34.54 | -27.56 | -35.58 | -20.65(f) | -27.29(f) | -32.99(f) | -36.32(f) | -39.92(f) | -43.88(f) | -48.12(f)
| | 175 | GBR | 112 | GGSB |
United Kingdom National currency | Billions | 1980-2010 | -9.237 | -5.210 | -5.663 | -10.17 | -9.093 | -7.592 | -7.544 | -8.355 | -4.147 | -7.970 | -10.49 | -16.30 | -29.84 | -36.29 | -36.58 | -33.38 | -27.33 | -12.38 | -1.731 | 5.611 | 7.408 | -5.321 | -25.67 | -39.49 | -47.92 | -47.59 | -46.32 | -55.51 | -92.12 | -129.55 | -117.02 | -97.74(f) | -82.72(f) | -63.54(f) | -47.24(f) | -35.26(f) | -20.66(f) | -14.29(f)
| | 176 | USA | 111 | GGSB |
United States National currency | Billions | 2001-2010 | | | | | | | | | | | | | | | | | | | | | | -73.18 | -391.63 | -509.97 | -526.23 | -442.99 | -317.10 | -390.05 | -726.88 | -1129.43 | -1188.76 | -1138.29(f) | -967.57(f) | -747.17(f) | -600.42(f) | -619.10(f) | -751.33(f) | -847.18(f)
| | 180 | VEN | 299 | GGSB |
Venezuela National currency | Billions | 1988-2010 | | | | | | | | | -0.0810 | -0.0140 | 0.0870 | -0.0690 | -0.2630 | -0.1590 | -0.9710 | -0.8030 | 2.337 | 1.081 | -2.245 | 0.6210 | 3.544 | -4.086 | -1.599 | 0.2300 | 5.254 | 12.45 | -6.143 | -13.91 | -17.70 | -57.10 | -148.56 | -123.46(f) | -86.69(f) | -71.74(f) | -107.68(f) | -151.95(f) | -249.81(f) | -320.39(f)
| | 181 | VNM | 582 | GGSB |
Vietnam National currency | Billions | 1998-2011 | | | | | | | | | | | | | | | | | | | -6013.97 | -14666.09 | -28258.77 | -34273.56 | -33020.10 | -48941.56 | -43097.42 | -72280.42 | -73608.22 | -92934.33 | -81934.15 | -150996.10 | -145279.50 | -141367.40 | -163597.10(f) | -160912.50(f) | -159641.80(f) | -151896.30(f) | -162384.90(f) | -173425.80(f)
| | 183 | ZMB | 754 | GGSB |
Zambia National currency | Billions | 2000-2011 | | | | | | | | | | | | | | | | | | | | | -555.71 | -818.10 | -693.60 | -1161.93 | -676.83 | -794.13 | -95.30 | -549.99 | -425.33 | -1563.62 | -2435.30 | -2839.93 | -2102.24(f) | -2060.90(f) | -1975.09(f) | -1823.34(f) | -1629.41(f) |
|
NOTES
| 6 | Argentina : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Economy. http://www.mecon.gov.ar/onp/html/ejectexto/cuenta_nac_dosuno.html?var1=cuentanacdosnueve Latest actual data: 2010 Notes: Government gross debt refers to the central government including untendered debt. Fiscal assumptions: The 2012 forecasts are based on the 2011 outturn and IMF staff assumptions. For the outer years, the IMF staff assumes unchanged policies. Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash. Central (National) government net lending/borrowing includes interest payments on accrual basis. General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Argentine pesos Data last updated: 04/2012
| | 8 | Australia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Fiscal projections are based IMF staff projections and the 2011?12 budget. 2011?12 mid-year economic and fiscal outlook and the Australian Bureau of Statistics Start/end months of reporting year: July/June Basis of recording: Cash General government includes: Central Government;Local Government;State Government; Valuation of public debt: Nominal value Primary domestic currency: Australian dollars Data last updated: 03/2012
| | 9 | Austria : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office Latest actual data: 2011 Fiscal assumptions: Projections take the federal financial framework 2013-16 as well as associated further implementation needs and risks into account. Start/end months of reporting year: January/December General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 16 | Belgium : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Central Bank Latest actual data: 2011 Fiscal assumptions: IMF staff projections for 2012 and beyond are based on unchanged policies. Start/end months of reporting year: January/December GFS Manual used: 2001. ESA95 data definitions Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government;Other; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 21 | Bosnia and Herzegovina : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance. Additional data received from the Indirect Tax Authority Latest actual data: 2010 Fiscal assumptions: Budget, macro framework, structural reforms set by program, and WEO. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government;Other; Valuation of public debt: Face value Primary domestic currency: Convertible marka Data last updated: 03/2012
| | 23 | Brazil : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Notes: General Government data refers to the non-financial public sector, which includes the federal, state and local governments as well as public enterprises. Revenue and expenditures of federal public enterprises are added in full to the respective aggregates Fiscal assumptions: For 2012, the projection is based on the budget and subsequent updates to plans announced by the authorities. In this and outer years, the IMF staff assumes adherence to the announced primary target and further invest in public investment in line with the authorities? intentions. Start/end months of reporting year: January/December GFS Manual used: 2001. No separate info in capital revenue is available, hence the GFSM 2001 adjustments could not be made to total revenue may still include capital revenue and net acquisition of nonfinancial assets may not be net of capital revenue. General government includes: Central Government;Local Government;Monetary Public Corporations, incl. central bank;Nonfinancial Public Corporation;Social Security Funds;State Government Primary domestic currency: Brazilian reais Data last updated: 03/2012
| | 25 | Bulgaria : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 GFS Manual used: 2001 General government includes: Central Government;Local Government;Social Security Funds;State Government Primary domestic currency: Bulgarian leva Data last updated: 03/2012
| | 30 | Canada : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Haver Analytics. The source for gross and net debt is OECD. Latest actual data: 2011 Notes: Fiscal data are on a calendar year basis. Fiscal assumptions: Projections use the baseline forecasts in the Economic Action Plan 2012, Jobs Growth and Long-Term Prosperity, March 29, 2012. The IMF staff makes some adjustments to this forecast for differences in macroeconomic projections. The IMF staff forecast also incorporates the most recent data releases from Finance Canada (The January 2012 Fiscal Monitor, March 29, 2012) and Statistics Canada, including federal, provincial, and territorial budgetary outturns through the end of 2011:Q4. Start/end months of reporting year: January/December GFS Manual used: 2001. Comment: Preliminary data: based on quarterly data. Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Nonfinancial Public Corporation;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Canadian dollars Data last updated: 04/2012
| | 34 | Chile : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Notes: GGCB and GGSB are approximated by the Central Government Cyclical-Adjusted Balance and Structural Balance, respectively as more than 90% of the expenditures and revenues are from the Central Government. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual). Some elements including tax revenues are recorded on a cash basis General government includes: Central Government;Local Government; Valuation of public debt: Nominal value Primary domestic currency: Chilean pesos Data last updated: 04/2012
| | 35 | China : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: CEIC Latest actual data: 2011 Fiscal assumptions: For 2011, the government is assumed to complete the stimulus program it announced in late 2008. Stimulus is withdrawn in 2011, resulting in a negative fiscal impulse of about 3/4 percent of GDP. For 2012, the government is assumed to slow the pace of fiscal consolidation; the fiscal impulse is assumed to be neutral. Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash General government includes: Central Government;Local Government;State Government; Valuation of public debt: Face value Primary domestic currency: Chinese yuan Data last updated: 03/2012
| | 36 | Colombia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2009 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Revenue (cash); Expenditure (accrual) General government includes: Central Government;Local Government;Social Security Funds;Other; Valuation of public debt: Nominal value Primary domestic currency: Colombian pesos Data last updated: 03/2012
| | 43 | Cyprus : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: The source is Eurostat for fiscal data. Latest actual data: 2010 Fiscal assumptions: Projections are based on the latest budget information, adjusted for staff's macroeconomic and other assumptions. Start/end months of reporting year: January/December GFS Manual used: Methodology is ESA 95 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 44 | Czech Republic : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: The forecast is based on unchanged policies (expenditures, except for the interst payments for the next three years are those provided by the authorities; revenues are projected by staff). There are currently no credible policy plans to reach the 2013 Convergence Program target of 3 percent of GDP. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Czech koruny Data last updated: 03/2012
| | 45 | Denmark : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: IFS - International Finance Statistics Latest actual data: 2010 Fiscal assumptions: Projections for 2012?13 are aligned with the latest official budget estimates and the underlying economic projections, adjusted where appropriate for the IMF staff?s macroeconomic assumptions. For 2014?17, the projections incorporate key features of the medium-term fiscal plan as embodied in the authorities? 2011 Convergence Program submitted to the European Union. Monetary policy is to maintain the peg to the Euro. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Danish kroner Data last updated: 04/2012
| | 48 | Dominican Republic : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Face value Primary domestic currency: Dominican pesos Data last updated: 03/2012
| | 49 | Ecuador : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Latest actual data: 2010 Fiscal assumptions: All the fiscal series are based on 1986 methodology GFS Manual used: 1986 General government includes: Central Government;Local Government;Nonfinancial Public Corporation;Social Security Funds;State Government Primary domestic currency: U.S. dollars Data last updated: 04/2012
| | 50 | Egypt : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010/11. Fiscal year 2010/2011 (June 2011) Fiscal assumptions: The fiscal projections are mainly based on budget sector operations (with trends of main variables discussed with the Ministry of Finance during the 2010 Article IV consultation). Start/end months of reporting year: July/June GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government;Other; Valuation of public debt: Nominal value Primary domestic currency: Egyptian pounds Data last updated: 03/2012
| | 57 | Finland : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance. Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Based on announced policies by the authorities, adjusted for the Staff macroeconomic scenario. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 58 | France : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office Latest actual data: 2010 Fiscal assumptions: Estimates for the general government in 2010 reflect the actual outturn. Projections for 2011 are based on preliminary outturn for central government only. Projections for 2012 and beyond reflect the authorities? 2011?14 multi-year budget, adjusted for two fiscal packages and differences in assumptions on macro and financial variables, and revenue projections. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 60 | The Gambia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Projections are based on known projects and commitments, macroeconomic projections, and anticipated policy changes. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: Gambian dalasis Data last updated: 03/2012
| | 61 | Georgia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash Primary domestic currency: Georgian lari Data last updated: 03/2012
| | 62 | Germany : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office. Data of general government gross debt comes from EUROSTAT Latest actual data: 2011 Fiscal assumptions: The estimates for 2011 are preliminary estimates from the Federal Statistical Office of Germany. The IMF staff?s projections for 2012 and beyond reflect the authorities? adopted core federal government budget plan adjusted for the differences in the IMF staff?s macroeconomic framework and staff assumptions about fiscal developments in state and local governments, the social insurance system, and special funds. The projections also incorporate authorities? plans for tax reduction in 2013-2014. The estimate of gross debt includes portfolios of impaired assets and non-core business transferred to institutions that are winding up as well as other financial sector and EU support operations. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government;Other;. other refers to special funds Valuation of public debt: Face value Primary domestic currency: Euros Data last updated: 04/2012
| | 64 | Greece : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Macroeconomic, monetary and fiscal projections for 2012 and the medium term are consistent with the policies agreed to between the IMF staff and the authorities in the context of the Extended Fund Facility (EFF). The data include fiscal data revisions for 2006?09. These revisions rectify a number of shortfalls with earlier statistics. First, government-controlled enterprises whose sales cover less than 50 percent of production costs have been reclassified into the general government sector, in line with Eurostat guidelines. A total of 17 such enterprises or entities were identified and included, including a number of large loss-making entities. The inclusion implies that the debt of these entities (7¼ percent of GDP) is now included in headline general government debt data and that their annual losses increase the annual deficit (to the extent their called guarantees were not already reflected). Second, the revisions reflect better information on arrears (including tax refund arrears, arrears on lump sum payments to retiring civil servant pensioners, and arrears to health sector suppliers), as well as corrections of social security balances on account of corrected imputed interest payments, double counting of revenues, and other inaccuracies. Finally, new information on swaps also became available and further helps explain the upward revision in debt data. Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value. Net debt data, including historical data, are provisional. Primary domestic currency: Euros Data last updated: 03/2012
| | 68 | Guinea-Bissau : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: CFA francs Data last updated: 04/2012
| | 69 | Guyana : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Consistent with other sectors. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Guyana dollars Data last updated: 02/2012
| | 72 | Hong Kong SAR : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: CEIC Latest actual data: 2010. Fiscal Year 2010/11 is latest complete year Fiscal assumptions: Projections are based on the authorities? medium-term fiscal projections. Start/end months of reporting year: April/March GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Face value Primary domestic currency: Hong Kong dollars Data last updated: 03/2012
| | 73 | Hungary : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010. Preliminary Fiscal assumptions: Fiscal projections include IMF staff projections of the macro framework and of the impact of existing legislated measures, as well as fiscal policy plans as announced by end of the first week of September 2011. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Nonfinancial Public Corporation;Social Security Funds; Valuation of public debt: Face value Primary domestic currency: Hungarian forint Data last updated: 03/2012
| | 74 | Iceland : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office Latest actual data: 2011 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) Valuation of public debt: Face value Primary domestic currency: Icelandic krónur Data last updated: 03/2012
| | 75 | India : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance. and IMF staff calculations Latest actual data: 2010. State Level data arrive with significantly longer lag than Central data. Fiscal assumptions: Historical data are based on budgetary execution data. Projections are based on available information on the authorities? fiscal plans, with adjustments for IMF staff assumptions. Subnational data are incorporated with a lag of up to two years; general government data are thus finalized well after central government data. IMF and Indian presentations differ, particularly regarding divestment and license auction proceeds, net versus gross recording of revenues in certain minor categories, and some public sector lending Start/end months of reporting year: January/December. The original data from the authority is on FY (Apr/Mar) basis. IMF staff converted to CY (Jan/Dec) basis. GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;State Government; Valuation of public debt: Nominal value. Authorities debt figures often Primary domestic currency: Indian rupees Data last updated: 03/2012
| | 76 | Indonesia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Notes: Additional WEO data variables submission are done based on GFSM 2001 (on a cash basis), however, the process of conversion to GFS 2001 remains ongoing. Fiscal assumptions: The 2011 central government deficit was lower than expected (1.1 percent of GDP), reflecting under spending, particularly on public investment. The central government 2012 deficit is estimated at 1.0 percent of GDP, lower than the budget estimate of 1.5 GDP. This reflects current plans of raising domestic fuel prices by 33%. However as the system of fuel subsidies remain unchanged, increasing oil prices will have a negative budgetary impact in the absence of a comprehensive fuel subsidy reform. Low projected budget deficit also reflects ongoing budget execution problems. Fiscal projections for 2013 ? 2017 are built around key policy reforms needed to support economic growth, namely enhancing budget implementation to ensure fiscal policy effectiveness, reducing energy subsidies through gradual administrative price increases, and continuous revenue mobilization efforts to increase space for infrastructure development. Start/end months of reporting year: January/December. From 2000 onward GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government; Valuation of public debt: Face value. Book value Primary domestic currency: Indonesian rupiah Data last updated: 03/2012
| | 79 | Ireland : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office Latest actual data: 2011 Fiscal assumptions: Fiscal projections are based on the 2012 budget and the ?12.4 billion in consolidation effort over 2012-15 committed in the Medium-Term Fiscal Statement (published November 2011). The fiscal projections are adjusted for differences between the macroeconomic projections of the IMF staff and those of the Irish authorities. Start/end months of reporting year: January/December GFS Manual used: 2001. Data are provided with ESA 95 and mapped to GFS Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;Other; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 04/2012
| | 80 | Israel : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Historical data are based on Government Finance Statistics (GFS) submitted by the Ministry of Finance. The historical data, together with the announced fiscal consolidation plan by the authorities, form the basis for staff medium-term fiscal projections. Monetary policy stance is assumed to be unchanged. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Quasi-accrual basis. General government includes: Central Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Israeli new sheqalim Data last updated: 03/2012
| | 81 | Italy : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office Latest actual data: 2011 Fiscal assumptions: Fiscal projections incorporate the impact of the government?s announced fiscal adjustment package (July 2010 measures covering 2011?13; July-August 2011 measures covering 2011?14: and December 2011 measures covering 2012-14). The estimates for the 2011 outturn are preliminary. The IMF staff projections are based on the authorities? estimates of the policy scenario (as derived, in part, by the IMF staff), including the above-mentioned medium-term fiscal consolidation packages, and adjusted mainly for differences in macroeconomic assumptions and for less optimistic assumptions concerning the impact of revenue administration measures. After 2014, a constant cyclically adjusted primary balance net of one-time items is assumed. GFS Manual used: 2001 General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 83 | Japan : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Cabinet Office of Japan Latest actual data: 2010 Fiscal assumptions: The projections include fiscal measures already announced by the government (except for consumption tax increases) and gross earthquake reconstruction spending. The medium-term projections assume that expenditure and revenue of the general government are adjusted in line with current underlying demographic and economic trends (excluding fiscal stimulus and reconstruction spending). Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value. Gross public debt includes equity shares. Primary domestic currency: Japanese yen Data last updated: 03/2012
| | 84 | Jordan : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: January/December Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Face value Primary domestic currency: Jordanian dinars Data last updated: 03/2012
| | 85 | Kazakhstan : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: IMF Staff Latest actual data: 2011 Fiscal assumptions: Budget Law and staff projections Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government; Valuation of public debt: Nominal value Primary domestic currency: Kazakhstani tenge Data last updated: 03/2012
| | 88 | Korea : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: The fiscal projections assume that fiscal policies will be implemented in 2012 as announced by the government. Projections of expenditure for 2012 are in line with the budget. Revenue projections reflect the IMF staff?s macroeconomic assumptions, adjusted for discretionary revenue-raising measures included in the 2009-11 tax revision plans. The medium-term projections assume that the government will continue with its consolidation plans and balance the budget (excluding social security funds) by 2013, consistent with the government?s medium term goal. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;. For government gross/net debt only, general government includes central government and local government, starting from 2001. Valuation of public debt: Nominal value Primary domestic currency: Korean won Data last updated: 04/2012
| | 94 | Lebanon : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Revenue projections are made based on the macroeconomic assumptions and revenue buoyancy of various taxes (as measures by elasticity measures and staff's understanding of the authorities' tax policy measures). On the spending side, projections reflect the authorities' projections, with a few deviations to take into account key macroeconomic assumptions (e.g., WEO oil price for subsidies to the electricity company). Monetary projections are based on key assumptions on deposits growth, dollarization and credit to private sector. Start/end months of reporting year: January/December GFS Manual used: 1986. Transition to GFSM 2001 is currently underway. Basis of recording: Cash. Modified cash basis (only corrects for arrears) General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: Lebanese pounds Data last updated: 03/2012
| | 98 | Lithuania : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Fiscal projections for 2012 are based on the authorities? 2012 budget after adjusting for differences in macroeconomic assumptions. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Lithuanian litai Data last updated: 03/2012
| | 99 | Luxembourg : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Projections for 2011 are based on the 2011 budget. Staff?s projection for the outlook currently assumes that the authorities will meet their fiscal targets. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 103 | Malaysia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: For fiscal year 2011, projections are based on preliminary numbers. For fiscal year 2012, projections are based on budget numbers. For the remainder of the projection period, the IMF staff assumes unchanged policies. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;State Government; Valuation of public debt: Nominal value Primary domestic currency: Malaysian ringgit Data last updated: 03/2012
| | 105 | Mali : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Aprroved budget and agreed program budget for current year; authorities'medium-term fiscal framework plus staff estimates for outer years. Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Expenditure is reported on accrual basis, revenue on a cash basis (except for corporate income tax, which has a separate reporting regime) General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: CFA francs Data last updated: 03/2012
| | 106 | Malta : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Eurostat Latest actual data: 2009 Fiscal assumptions: Projections are based on the latest Stability Programme Update by the authorities and budget documents, adjusted for staff's macroeconomic and other assumptions. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Euro Data last updated: 03/2012
| | 108 | Mauritius : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: Starting in 2000 we are reporting on calendar year and prior to that the fiscal year ends in June. GFS Manual used: 2001. Not all details available, we are processing and should update in the next round. Basis of recording: Cash. Few non-cash calculations. General government includes: Central Government;Local Government;Nonfinancial Public Corporation;State Government; Valuation of public debt: Face value Primary domestic currency: Mauritian rupees Data last updated: 03/2012
| | 113 | Morocco : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Economy Latest actual data: 2010 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Face value Primary domestic currency: Moroccan dirhams Data last updated: 03/2012
| | 118 | Netherlands : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Fiscal projections for the period 2011?15 are based on the authorities? Bureau for Economic Policy Analysis budget projections, after adjusting for differences in macroeconomic assumptions. For 2016-17, the projections assume fiscal consolidation continues at about the same pace as for 2015. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 119 | New Zealand : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: New Zealand: Fiscal Projections are based on the authorities 2011 Budget and IMF staff estimates. The New Zealand fiscal accounts switched to New Zealand International Financial Reporting Standards in Budget 2007/08. Backdated data has been released back to 1997. Start/end months of reporting year: July/June GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Social Security Funds; Valuation of public debt: Current market value Primary domestic currency: New Zealand dollars Data last updated: 04/2012
| | 123 | Norway : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office and Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Fiscal projections are based on the authorities? 2012 budget announced in October 2011. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Current market value Primary domestic currency: Norwegian kroner Data last updated: 03/2012
| | 126 | Panama : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Economy Latest actual data: 2011. 2011. The NFPS excludes the Panama Canal Authority and three other public enterprises. Fiscal assumptions: Budget Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash General government includes: Central Government;Local Government;Nonfinancial Public Corporation;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: U.S. dollars Data last updated: 03/2012
| | 128 | Paraguay : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: General Government accounts on a cash basis Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government; Valuation of public debt: Face value Primary domestic currency: Paraguayan guaraníes Data last updated: 03/2012
| | 129 | Peru : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Face value Primary domestic currency: Peruvian nuevos soles Data last updated: 03/2012
| | 131 | Poland : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Eurostat Latest actual data: 2011. Preliminary Fiscal assumptions: Data is on a ESA-95 (accrual) basis. Projections are based on the 2011 budget and other fiscal consolidation measures announced as of March 2011, as well as on the planned diversion of contributions from the pillar II to the pillar I pension system. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: 0 Valuation of public debt: Nominal value Primary domestic currency: Polish zlotys Data last updated: 03/2012
| | 132 | Portugal : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Eurostat since 1995 Latest actual data: 2010 Fiscal assumptions: Projections reflect the authorities? commitments under the EU-IMF-supported Program for 2012-13, and staff?s projections afterwards. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government;Other; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 134 | Romania : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: February/January GFS Manual used: 2001. Cash General government includes: Central Government;Nonfinancial Public Corporation;Social Security Funds; Valuation of public debt: Current market value Primary domestic currency: Romanian lei Data last updated: 03/2012
| | 135 | Russia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Projections for 2012?14 are based on the non-oil deficit as a percent of GDP implied by the 2012?14 medium-term budget and IMF staff revenue projections. The IMF staff assumes an unchanged non-oil federal government balance as a percent of GDP during 2015?17. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Current market value Primary domestic currency: Russian rubles Data last updated: 03/2012
| | 140 | Senegal : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Based on program targets for first 1-2 years, thereafter on DSA considerations. Fiscal accounts are shown in accordance with the 2001 GFS methodology. Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: CFA francs Data last updated: 03/2012
| | 141 | Serbia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010. Data are produced monthly. Latest data is August 2010. Fiscal assumptions: Authorities'SBA supported program Start/end months of reporting year: January/December GFS Manual used: 1986. Combination of 1986 Basis of recording: Cash General government includes: Local Government;Social Security Funds;State Government;Other;. The general government includes the social security funds, pension fund, the employment fund, health fund, and the oad company Valuation of public debt: Nominal value Primary domestic currency: Serbian dinars Data last updated: 02/2012
| | 144 | Singapore : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: For fiscal year 2012/13, projections are based on budget numbers. For the remainder of the projection period, the IMF staff assumes unchanged policies. Start/end months of reporting year: April/March GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: Singapore dollars Data last updated: 03/2012
| | 145 | Slovak Republic : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Haver Analytics Latest actual data: 2011 Fiscal assumptions: Estimates for the general government in 2010 reflect the actual outturn. Projections for 2011 are based on actual outturn for central government only. Projections for 2012 and beyond reflects no policy change scenario. Start/end months of reporting year: January/December GFS Manual used: ESA 95 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Face value Primary domestic currency: Euros Data last updated: 03/2012
| | 146 | Slovenia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Face value Primary domestic currency: Euros Data last updated: 03/2012
| | 148 | South Africa : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Fiscal projections are based on the authorities? 2012 budget and policy intentions stated in the Budget Review, published February 22, 2012. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: South African rand Data last updated: 03/2012
| | 149 | Spain : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance. Eurostat Latest actual data: 2011. Preliminary Fiscal assumptions: The 2011 numbers are based on the authorities? estimated outturns for the general government for the year. For 2012 and beyond, the projections are based on measures implemented during the course of 2012 and the authorities? deficit target for 2012. The draft budget for 2012 was not available at the time of staff?s forecast. Start/end months of reporting year: January/December GFS Manual used: ESA95, consistent with Eurostat dataset Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Euros Data last updated: 03/2012
| | 154 | Sudan : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government Primary domestic currency: Sudanese Pound. Data last updated: 03/2012
| | 157 | Sweden : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Fiscal projections for 2012 are broadly in line with the authorities? projections. The impact of cyclical developments on the fiscal accounts is calculated using the Organization for Economic Cooperation and Development?s latest semi-elasticity.? Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government Primary domestic currency: Swedish kronor Data last updated: 04/2012
| | 158 | Switzerland : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2009 Fiscal assumptions: Projections for 2010?17 are based on IMF staff calculations, which incorporate measures to restore balance in the federal accounts and strengthen social security finances. Monetary policy variables reflect historical data from the national authorities and market. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Swiss francs Data last updated: 03/2012
| | 160 | Taiwan Province of China : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: CEIC Latest actual data: 2010 Notes: We do not have data on policy lending. Fiscal assumptions: Projections for 2011-17 are based on the assumptions underlying the IMF staff's medium-term macroeconomic scenario. Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: accrual General government includes: Central Government;Local Government;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: New Taiwan dollar Data last updated: 03/2012
| | 163 | Thailand : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: Fiscal projections are based on IMF staff estimates from latest Article IV consultation, adjusted for changes in macroeconomics assumption as well as in classification method Start/end months of reporting year: October/September GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government; Valuation of public debt: Nominal value. Book value Primary domestic currency: Thai baht Data last updated: 03/2012
| | 168 | Tunisia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Nominal value Primary domestic currency: Tunisian dinars Data last updated: 03/2012
| | 169 | Turkey : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Fiscal projections assume that current expenditures will be in line with the authorities? 2012?14 Medium-Term Program (MTP), but that capital expenditures will be exceeded given projects initiated in 2011. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Turkish lira Data last updated: 04/2012
| | 173 | Ukraine : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Fiscal assumptions: Projections based on IMF staff estimates. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Social Security Funds;State Government; Valuation of public debt: Nominal value Primary domestic currency: Ukrainian hryvnias Data last updated: 03/2012
| | 175 | United Kingdom : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: National Statistical Office Latest actual data: 2010 Notes: General government variables exclude the effects of temporary effect of financial interventions. Fiscal assumptions: Fiscal projections are based on the authorities? 2012 budget announced in March 2012 and the Economic and Fiscal Outlook by the Office for Budget Responsibility published along with the budget. These projections incorporate the announced medium-term consolidation plans from 2012 onward. The projections are adjusted for differences in forecasts of macroeconomic and financial variables and exclude the temporary effects of financial sector interventions and the effect on public sector net investment in 2012-13 of transferring assets from the Royal Mail Pension Plan to the public sector. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government; Valuation of public debt: Nominal value Primary domestic currency: Sterling pounds Data last updated: 03/2012
| | 176 | United States : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: BEA and IMF's Government Finance Statistics Yearbook (revenue, expenditure, and net lending); Flow of Funds (debt) Latest actual data: 2010 Notes: Revenue, expenditure, and net lending data are compiled according to the GFSM2001 methodology. Due to data limitations, most series begin 2001. Fiscal assumptions: Fiscal projections are based on the January 2012 CBO baseline adjusted for the IMF staff's policy and macroeconomic assumptions. The key near-term policy assumptions include a continuation of the payroll tax cut during 2012, an extension of emergency unemployment benefits into 2013 (one year beyond the current law), and an automatic sequestration of spending from 2013 triggered by the failure of the Joint Select Committee on Deficit Reduction. In the medium term, IMF staff assumes that Congress will continue to make regular adjustments to the AMT parameters and Medicare payments (DocFix), will extend certain traditional programs (such as the research and development tax credit), the Bush tax cuts for the middle-class will be extended permanently, but the Bush tax cuts for the higher-income taxpayers will be allowed to expire from 2014 (one year later than planned under the current law). The fiscal projections are adjusted to reflect the IMF staff?s forecasts of key macroeconomic and financial variables, different accounting treatment of the financial sector support, and are converted to the general government basis. Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Noncash (accrual) General government includes: Central Government;Local Government;State Government; Valuation of public debt: Nominal value Primary domestic currency: U.S. dollars Data last updated: 03/2012
| | 180 | Venezuela : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2010 Start/end months of reporting year: January/December GFS Manual used: 2001 Basis of recording: Cash General government includes: Central Government;Local Government;Nonfinancial Public Corporation;Social Security Funds; Valuation of public debt: Nominal value Primary domestic currency: Venezuelan bolívares Data last updated: 03/2012
| | 181 | Vietnam : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Fiscal assumptions: 2010 is based on authorities' budget (for expenditure); for projections on revenues and financing, staff use the information/measures in the approved budget but the team's macro-framework assumptions. Start/end months of reporting year: January/December GFS Manual used: 2001 General government includes: Central Government;Local Government;Monetary Public Corporations, incl. central bank;State Government; Valuation of public debt: Nominal value Primary domestic currency: Vietnamese dong Data last updated: 03/2012
| | 183 | Zambia : | The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton ?Computing Cyclically Adjusted Balances and Automatic Stabilizers? IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Source: Ministry of Finance Latest actual data: 2011 Start/end months of reporting year: January/December GFS Manual used: 1986 Basis of recording: Cash General government includes: Central Government; Valuation of public debt: Current market value Primary domestic currency: Zambian kwacha Data last updated: 03/2012
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