The budget deficit in the first quarter of 1998 amounted to 31 per cent, compared to 55 per cent in the corresponding period in 1997 but there was a primary surplus on the budget of LL 207 billion compared to a primary deficit of LL 318 billion one year earlier.

That will prolong excessive government spending, and deficit targets will not be met on a sustained basis. Large reductions in public sector wages brought down the primary deficit, but employment maintenance lowers productivity, raises costs, and delays adjustment.

Any reader who went beyond the headlines soon discovered that the prediction of a zero budget deficit was in fact misleading. The International Monetary Fund was predicting only that Greece would have a zero primary budget deficit in 2013.

The overall budget deficit is still predicted to be 4.1 of Greece s GDP in 2013 a substantial improvement compared to 2010 but still far from fiscal balance. The difference between the overall deficit and the primary deficit implies that the interest on the Greek national debt this year will be 4.1 of GDP.

And he came close to being successful, as the primary deficit of 28 trillion in 2002 was reduced to just 6 trillion in 2007. Had this effort been continued for two more years, a primary surplus could have been realized.

So, how should the US economy s jobs deficit, investment deficit, and long run fiscal deficit be addressed?

There is both a knowledge deficit and an understanding deficit.

Budget deficit

Deficit (surplus)

A deficit?

Europe s Trust Deficit

Europe s Vision Deficit

The Energy Deficit

Difference (surplus deficit)

In the field of education, Paraguay has significantly reduced illiteracy and increased school enrolment, and will continue to reduce the deficit in and improve the quality of basic and primary education.

It perpetuates deficit spending.

Europe s Pointless Deficit Targets?

America s Misplaced Deficit Complacency

Global Warming s Technology Deficit

Closing America s Jobs Deficit

The Global Trust Deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

Surplus (deficit) for period

Valuation results surplus (deficit)

But none of these is the deficit that really matters. The deficit that prevents Europe from drawing a line under its crisis is a deficit of trust.

BERKELEY The United States is beset by four deficits a fiscal deficit, a jobs deficit, a deficit in public investment, and an opportunity deficit. The budget proposals put forward by presidential candidate Mitt Romney and his running mate, Paul Ryan, could reduce the fiscal deficit, but would exacerbate the other three.

Looking ahead, the IMF predicts that Greece will have a gradually rising primary surplus and a gradually declining overall deficit over the next several years. But, unless Greece is able to increase its rate of economic growth, the budget will remain in deficit and the debt will remain at nearly its current share of GDP.

Romney has provided few details about his deficit reduction plan. But, based on what he has revealed, we know that it would increase the jobs deficit, the investment deficit, and the opportunity deficit, with negative consequences for future growth and prosperity.

Attention deficit disorder, bipolar disorder.

The Sino American Trust Deficit

What is the Deficit Endgame?

VII. The Conference s financial deficit

D. Actual expenditures and deficit

Mr. Bailey, there's a deficit.

3. Operating deficit (1 less 2)

Other than regular primary schools there are special primary schools and institutes, parallel primary schools (music and ballet), and primary schools for adults.

At the same time, fiscal adjustment remains essential to Italy s short and long term stability. According to the International Monetary Fund, the budget deficit is declining, and the primary surplus (net revenues minus interest payments) is growing.

Primary education is realized through primary schools, special primary schools for children with development problems, and departments for primary education of adults (after 16).

While the IMF s primary scenario is that Irish and Portuguese debt levels will soon stop rising, it comes with a chilling litany of downside risks. The likelihood that budget deficit and debt targets will be missed is rising.

Primary