The deficit stood at 5pc of GDP
by March 31 of this year, but leapt by a staggering 80pc (or Rs1.523tr) in the last quarter of the fiscal year that runs from March to June.
According to the State Statistics Committee, 44.6 percent of GDP
recorded in January-June 2019 accounts for industrial production.
Two Member States had deficits equal to or higher than 3% of GDP
: Romania (-3%) and Cyprus (-4.8%).
Government Budget (percent of GDP
Last week, Finance Minister Asad Umar said Pakistan's gross public debt would remain at 70% of GDP
by 2023 as no sharp reduction was possible.
's formula consists of four main pillars: Private consumption; government consumption, spending, and investments; private investments; and net exports.
Sectors with an increase in real GDP
in Rochester last year include trade; transportation and utilities; professional and business services; educational services, health care and social assistance; and arts, entertainment, recreation, accommodation and food services.
According to Maastricht criteria, it will fall from 50.9 percent of GDP
to 49.9 percent of GDP
, or 48.1 percent of GDP
In the structure of GDP
by the expenditure approach the largest share has the final consumption (82.3%), which in nominal terms amounted to 22 954 million BGN.
Ministry of Finance further explained that developed countries like USA, UK and Japan also carry debt and maintain levels as high as 80 to over 100 percent of their GDPs
, well over Pakistan debt to GDP
Against this backdrop, the taxable GDP
in Lebanon amounts to 63 percent of actual GDP
, and the weight of banks climbs to 12.7 percent.
Among all Asean countries, Brunei is the largest military spender with 3.5 percent of its GDP
goes to military expenditures.