FRANCE expects its
public sector deficit to reach 2.1 per cent of economic output next year, up from the two per cent forecast prior to tax cuts promised in response to the so-called yellow vest protest movement, a government budget projection showed yesterday.
Budget Secretary Benjamin Diokno for one said the raise should ensure that 'our
public sector deficit remains manageable' and that 'the excellent international financial standing the Duterte administration has built' would not be put at risk.
Brazil's annual
public sector deficit is running at a unsustainable 7% of gross domestic product (GDP).
The declaration of an "unmanageable
public sector deficit" would allow the President to implement a downward adjustment of IRA of up to 10%.
"We expect this to be the first of two (or as much as four) percentage-point reductions in the RRR next year," he said, adding that the RRR cuts "will likely help temper the crowding-out effect of
public sector deficit spending expected to continue next year.
"The
public sector deficit has exceeded beyond Rs100 billion and Pakistan was fast moving from the [FATF's] grey list to black list yet the former leaders of the country were least bothered," he alleged.
"The
public sector deficit has exceeded beyond Rs 100 billion and Pakistan was fast moving from (FATF's) grey list to black list yet the former leaders of the country were least bothered," he alleged.
The
public sector deficit has exceeded beyond Rs100 billion and Pakistan was fast moving from the [FATF's] greylist to blacklist yet the former leaders of the country were least bothered," he alleged.
The IMF said, 'In the United Kingdom, the fiscal targets-which envisage the cyclically adjusted
public sector deficit falling below 2 percent of GDP and public debt beginning to decline by 2020-21-provide an anchor for medium-term objectives while allowing for flexibility in the short term.'
Drilon opposed a plan of the country's economic managers to resort to a declaration of an unmanageable
public sector deficit to allow the President to reduce the internal revenue allotment (IRA) shares of local government units (LGUs) to order to address the potential expense of P200 billion, the projected budgetary requirement caused by the recent Supreme Court ruling in the Mandanas case on the "just share" of LGUs in the taxes collected.
The broad
public sector deficit targeted by the government deficit fell to 3.6% of GDP in 2017 from to 3.9% in 2016, but exceeded the 3.3% goal.
"Closing this deficit is ultimately more important than dealing with the
public sector deficit.
