GENERAL GOVERNMENT CYCLICALLY ADJUSTED

Rules involving targets for cyclically adjusted deficits can accomplish both of these goals. Most importantly, the rules must recognize their own imperfection and thus must remain open to review and improvement.

The IMF estimates that these cyclical effects on revenue and outlays have raised the overall deficit by nearly 5 of Greek GDP. On a cyclically adjusted basis, Greece s overall budget would show a surplus of 0.6 of GDP this year.

Sweden and Chile are almost poles apart geographically, but both have used sophisticated fiscal rules successfully. Chile sets a target for its cyclically adjusted fiscal balance that is, the balance that emerges after accounting for the deviations in commodity prices and domestic output from their trends.

In fact, the latest forecast reflects an even worse outcome for France and Italy this year than originally promised, with France s deficit set to increase slightly for 2015 and Italy s cyclically adjusted deficit expected to deteriorate. The Stability and Growth Pact prescribes an annual improvement of at least 0.5 of GDP.

Reflecting these reforms, the International Monetary Fund recently projected that Italy will have a cyclically adjusted budget surplus of nearly 1 of GDP in 2013. Unfortunately, because Italy will still be in recession next year, its actual deficit is expected to be 1.8 of GDP, adding to the national debt.

A dogmatic target of budgetary balance four years hence, irrespective of a country s position in the economic cycle, would achieve little targets are meaningless if they are impossible to implement. So the rules would have to be set with reference to each member state s cyclically adjusted fiscal position (for which the OECD already produces estimates).

Despite cuts in government spending and increases in taxes, the IMF still projects the cyclically adjusted fiscal deficit to exceed 3.2 of GDP in 2013 and 2.3 of GDP in 2015. The key to solving Spain s fiscal problem lies in the semi autonomous regions that generate spending and shift the financing burden to Madrid.

A limit on the structural deficit means that a country can run a deficit above the limit to the extent and only to the extent that the gap between revenue and spending is cyclical (that is, its economy is operating below potential due to temporary negative shocks). In other words, the target is cyclically adjusted.

Debris will cyclically collide with each other and thus create more remains that effectively form a lethal shell around the earth.

G. Imputed or significantly adjusted figures

It's like a happiness adjusted life expectancy.

Slowly his eyes adjusted to the darkness.

And I adjusted affairs for him adjustably

And I adjusted affairs for him adjustably

3.33 million adjusted from West Oil loan

Several participants referred to the practice of other United Nations bodies, where items are taken up cyclically or in multi year programmes of work.

The adjusted pay gap cannot be fully explained.

The perception of certain concepts needs to be adjusted.

The Panel recommends that the company's award be adjusted accordingly.

The subvention is currently set at 238,200, and is cost adjusted.

If you press this button, all channel levels will be adjusted automatically.

Once these interests had been served, the legal texts were adjusted to suit circumstances.

The cost adjusted UNIDIR subvention in 2004 was 274,200 and is 202,300 in 2005.

The Health Adjusted Life Expectancy for women is 74.3 years and males 70.9 years.

We created the responsive room where the lights music and blinds adjusted to your state.

For pupils with development problems, special education is arranged with curricula adjusted to their abilities.

However, where necessary, those definitions could be adjusted to reflect the peculiarities of distributive trade.

a Reflects adjusted distribution of approved resources between military and operational requirements categories of expenditure.

IFAD's approach involves a system of voting shares that are adjusted when payments are received.

Iraq also criticizes Saudi Arabia's Soil Adjusted Vegetation Index and Normalized Difference Vegetation Index analysis.

No Government revenues be traded or adjusted against dues or debt outside the budgetary process.

The neo classical revolution believed that markets were much more cyclically stable than Keynes believed, that the risks in all market transactions can be known in advance, and that prices will therefore always reflect objective probabilities.

A reliability centered maintenance program continually adjusted procedures based on actual performance data and operational experience.

(g) There are serious concerns about the use of imputed or significantly adjusted figures for countries.

In recent years, several points of Dutch aliens policy in relation to women have been adjusted.

Issuance of SDS in such instances will be adjusted in the reimbursement for contingent owned equipment.

Adjusted for population density, that is less than one percent of the impact of the Haitian quake.

I'm just wondering how you are getting on and if you have adjusted to the new environment.

e To be technically adjusted prior to the approval of the proposed programme budget for 2006 2007.

The levels of planned programme expenditure will be continuously adjusted based on updated information about projected income.

These estimates may have to be adjusted in the light of the decisions taken at that time.

The base year inventory shall be reviewed only once prior to the commitment period and adjusted if appropriate.

It should be noted that travelling expenses will be adjusted after collecting logistics data checked in the field.

In the second step, the requirements are further adjusted in line with expected cost increases for 2006 and 2007.