Table 3.3 Annual Changes in Fiscal Imbalances: Interest Accruals and Shifting the Projection Window
|
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 | ||
|
Country |
Measure |
€ billions |
FI as percent of PV_ |
GDP and | |||||||||||
|
Fiscal imbalance |
1,971.1 |
2,050.9 |
2,133.2 |
2,218.1 |
2,305.6 |
2,395.8 |
2,488.6 |
8.3 |
8.6 |
8.9 |
9.3 |
9.6 |
10.0 |
10.4 | |
|
EU |
Annual change |
- |
79.8 |
82.3 |
84.9 |
87.5 |
90.2 |
92.8 |
- |
17.6 |
18.0 |
18.4 |
18.8 |
19.3 |
19.8 |
|
Benchmark |
Interest accrual |
- |
46.9 |
48.8 |
50.8 |
52.8 |
54.9 |
57.0 |
- |
10.3 |
10.7 |
11.0 |
11.4 |
11.7 |
12.1 |
|
Shift in projection window__________ |
- |
32.9 |
33.5 |
34.1 |
34.7 |
35.3 |
35.8 |
- |
7.3 |
7.3 |
7.4 |
7.5 |
7.5 |
7.6 | |
|
Fiscal imbalance |
853.8 |
886.5 |
920.1 |
954.7 |
990.2 |
1,026.9 |
1,064.6 |
5.9 |
6.1 |
6.3 |
6.6 |
6.8 |
7.0 |
7.3 | |
|
Belgium |
Annual change |
- |
32.6 |
33.6 |
34.6 |
35.6 |
36.6 |
37.7 |
- |
11.3 |
11.6 |
11.9 |
12.2 |
12.5 |
12.8 |
|
Interest accrual |
- |
20.3 |
21.1 |
21.9 |
22.7 |
23.6 |
24.4 |
- |
7.0 |
7.3 |
7.5 |
7.8 |
8.0 |
8.3 | |
|
Shift in projection window__________ |
- |
12.3 |
12.5 |
12.7 |
12.9 |
13.1 |
13.2 |
- |
4.3 |
4.3 |
4.4 |
4.4 |
4.5 |
4.5 | |
|
Fiscal imbalance |
753.5 |
781.6 |
810.6 |
840.5 |
871.3 |
903.2 |
936.0 |
7.8 |
8.1 |
8.4 |
8.7 |
9.0 |
9.3 |
9.6 | |
|
Denmark |
Annual change |
- |
28.1 |
29.0 |
29.9 |
30.8 |
31.8 |
32.9 |
- |
14.2 |
14.6 |
15.1 |
15.5 |
16.0 |
16.4 |
|
Interest accrual |
- |
17.9 |
18.6 |
19.3 |
20.0 |
20.7 |
21.5 |
- |
9.1 |
9.4 |
9.7 |
10.1 |
10.4 |
10.8 | |
|
Shift in projection window__________ |
- |
10.2 |
10.4 |
10.6 |
10.8 |
11.1 |
11.4 |
- |
5.2 |
5.2 |
5.3 |
5.5 |
5.6 |
5.7 | |
|
Fiscal imbalance |
9,263.4 |
9,605.9 |
9,957.5 |
10,318.2 |
10,688.3 |
11,067.8 |
11,456.9 |
9.2 |
9.5 |
9.9 |
10.2 |
10.6 |
11.0 |
11.4 | |
|
Annual change |
- |
342.5 |
351.5 |
360.7 |
370.1 |
379.5 |
389.1 |
- |
15.4 |
15.8 |
16.2 |
16.6 |
17.0 |
17.5 | |
|
Germany |
Interest accrual |
- |
220.5 |
228.6 |
237.0 |
245.6 |
254.4 |
263.4 |
- |
9.9 |
10.3 |
10.6 |
11.0 |
11.4 |
11.8 |
|
Shift in projection window__________ |
- |
122.1 |
122.9 |
123.7 |
124.5 |
125.1 |
125.7 |
- |
5.5 |
5.5 |
5.6 |
5.6 |
5.6 |
5.6 | |
|
Fiscal imbalance |
1,470.4 |
1,539.2 |
1,610.7 |
1,685.0 |
1,762.3 |
1,842.5 |
1,925.8 |
10.9 |
11.4 |
11.9 |
12.5 |
13.1 |
13.7 |
14.3 | |
|
Greece |
Annual change |
- |
68.8 |
71.5 |
74.3 |
77.2 |
80.2 |
83.3 |
- |
39.8 |
40.5 |
41.1 |
41.7 |
42.3 |
43.0 |
|
Interest accrual |
- |
35.0 |
36.6 |
38.3 |
40.1 |
41.9 |
43.9 |
- |
20.3 |
20.7 |
21.2 |
21.6 |
22.1 |
22.6 | |
|
Shift in projection window__________ |
- |
33.8 |
34.9 |
36.0 |
37.1 |
38.3 |
39.4 |
- |
19.6 |
19.7 |
19.9 |
20.1 |
20.2 |
20.3 | |
|
Fiscal imbalance |
2,044.7 |
2,129.9 |
2,217.0 |
2,306.1 |
2,397.1 |
2,490.1 |
2,585.1 |
5.4 |
5.6 |
5.8 |
6.1 |
6.3 |
6.5 |
6.8 | |
|
Spain |
Annual change |
- |
85.2 |
87.1 |
89.1 |
91.0 |
93.0 |
95.0 |
- |
10.1 |
10.3 |
10.4 |
10.7 |
10.9 |
11.2 |
|
Interest accrual |
- |
48.7 |
50.7 |
52.8 |
54.9 |
57.1 |
59.3 |
- |
5.8 |
6.0 |
6.2 |
6.4 |
6.7 |
7.0 | |
|
Shift in projection |
- |
36.5 |
36.4 |
36.3 |
36.1 |
35.9 |
35.7 |
- |
4.3 |
4.3 |
4.3 |
4.2 |
4.2 |
4.2 | |