Defence spending, though increasing in absolute terms, remained unchanged at 3pc of GDP
when compared with last year.
Decrease in the construction sector by 11.2 percent had a noticeable impact on the deceleration in GDP
In the euro area the government deficit to GDP
ratio fell from 1.0% in 2017 to 0.5% in 2018, and in the EU28 from 1.0% to 0.6%.
According to the report, Pakistan's budget deficit - the gap between expenditures and revenues - will widen to 7.2% of GDP
or Rs2.8 trillion in the current fiscal year.
As a result, GDP
as a measure fails in its essence to capture what matters to individuals engaged in a country's economic activities, rather than general consumption and investment levels.
The fourth quarter of 2017 GDP
at seasonally adjusted data increased by 3.6% compared to the same quarter of the previous year.
Alternatively, in the OECD, the weighted average tax wedge for the seven largest economies of the bloc stands at 39.95 percent, knowing the OECD's GDP
per capita reaches highs of $42,098 as per 2016's OECD data, while Lebanon's GDP
per capita amounts to $11,900.
Despite posting 6.9-percent GDP
growth in 2016, Cambodia remains the poorest in the region in terms of GDP
per capita at US$1,270, next to Myanmar.
Overall tax collection grew from 9.8 percent of GDP
in 2012-13 to 12.5 percent of GDP
are alluding to is what I call the GDP
paradox: the fact that it's widely proven and accepted that Gross Domestic Product--the monetary value of all final market goods and services produced in a period in a country--is not a good indicator of progress, and yet society is unable to let it go.
AzerbaijanEe's consolidated budget revenues were up 26.3% y/y to AZN 5.6bn (37.6% of GDP
) in 1Q17 (44.3% of GDP
in 1Q16), while expenditures were up 101.7% y/y to AZN 6.8bn, leading to a AZN 1.1bn deficit (7.2% of GDP
), compared to a AZN 1.1bn surplus in 1Q16 (9.5% of GDP
Revenues were driven by a 61.8% y/y increase in SOFAZ revenues and 40.8% y/y increase in oil taxes, while non-oil revenues were down 9.8% y/y.
is undoubtedly the most known and widely used metric of macroeconomic performance.