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Government budgets 1999/2000: no departure from the restrictive course

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Economic Bulletin

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  1. This appears to be in contradiction to the trend according to financial statistics definitions. Apart from the fact that the deficit ratio falls partly because of the rise in nominal GDP, the deficit trend on fiscal statistics definitions is largely explained by the decline in privatisation receipts, which do not affect the national acounting figures. On top of this comes the fact that the deficit ratio under the Stability Pact includes the social insurance funds—which are recording surpluses— whereas this report considers only the budgets of central, state and local government.

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Government budgets 1999/2000: no departure from the restrictive course. Economic Bulletin 36, 3–12 (1999). https://doi.org/10.1007/BF02683082

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  • DOI: https://doi.org/10.1007/BF02683082

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