Muzzamil Hussain Sabri President Islamabad Chamber of Commerce and Industry said that for the last couple of decades, banking sector in Pakistan has preferred to fund fiscal and public sector deficits
instead of providing easy lending to private sector and this approach has dwindled the prospects for improving business activities and achieving longtern economic growth of the country.
The move comes as Spain emerges from one of its deepest recessions in decades, struggles with record high unemployment -- with one of four of the workforce out of a job -- and fights to narrow one of the eurozone's widest public sector deficits
CYPRUS must urgently trim widening public sector deficits
to safeguard a nascent economic recovery and avert more dramatic cost cutting which could slash salaries and pensions, Central Bank governor Athanasios Orphanides said yesterday.
The G20 is set to announce a concerted effort to halve public sector deficits
within three years and stabilize government debt as well, but also recognize that the start of that process will take place at different speeds, according to a draft communique.
The G20 leaders are set to announce a concerted effort to halve public sector deficits
within three years and stabilize government debt as well, but also recognize that the start of that process will take place at different speeds, according to a draft communique that Reuters obtained.
While many Western countries are entering recession with weak financial institutions, high consumer debt and public sector deficits
at an all time high, China has a government budget which is in surplus, a high savings rate among its population and domestic banks with plenty of capital.
Indeed, the dueling in Deauville must be seen in the context of the deteriorating German economy with below-zero growth, close to five million unemployed, and public sector deficits
above the European Stability Pact limit of 3 percent.
It also called for reducing public sector deficits
through a combination of tax reform and spending restraint;
There is much confusion about the actual magnitude and the impact of the public sector deficits
in Turkey for two principal reasons.
The current macroeconomic policy mix of tight monetary policy, incomplete fiscal consolidation and a relatively overvalued exchange rate has resulted in external current account and public sector deficits
and constrained growth.
If there are ways to reduce public sector deficits
other than by cutting funding to programs aiding the needy, then we have a moral obligation to consider these alternatives.
In Chapter 2 Carlos Rodriguez analyzes the effects of public sector deficits
on the real exchange rate, balance of trade, current account, and external indebtedness.