One of the most damning outcomes of the last fiscal year was an unprecedented steep fall in tax to GDP
ratio, perhaps justifying the need for a massive Rs1.550tr worth of additional taxation measures during current year.
The Azerbaijani government forecasts 3.2 percent GDP
growth in 2019.
In the euro area the government debt to GDP
ratio declined from 87.1% at the end of 2017 to 85.1% in 2018, and in the EU28 from 81.7% to 80.0%, according to Eurostat.
IMF's projected budget deficit is Rs550 billion, or 1.6% of GDP
, higher than what the finance ministry has estimated in its revised budget.
Therefore, and if we were to rethink the way we measure GDP
, its main formula can be adjusted to address the following.
Property Tax Real estate is a driver of the Lebanese economy constituting 14.48 percent of GDP
. The real estate registration fees (composing 7.57 percent of total tax revenues) reached LL802 billion ($532 million) in 2016, up by 3.68 percent from 2015's.
While its GDP
growth rate at 4.9 percent belonged to the lower half of the region in 2016, Indonesia posted the highest GDP
among Asean countries with US$932.3 billion.
FBR tax collection in 2012-13 was 8.7 percent of GDP
which has been increased to 10.5 percent of GDP
Many could argue Sarkozy was only open to thinking beyond GDP
because the predictions of economic growth under his government at the time were unfavourable.
While the industrial revolution may have sparked an interest in national income accounting, ultimately political forces and world economic events shaped modern GDP
. During the Great Depression, British economist Colin Clark and American economist, Simon Kuznets, were charged with producing national income accounts.
The most closely watched indicator is GDP
. This indicates the gross amount of added value that a country produces, and per capita GDP
is often used as an indicator to compare a country's wealth internationally.
The Little Big Number: How GDP
Came to Rule the World and What to Do about It