primary deficit created, stockflow adjustment, the real growth of the GDP and real interest rates. On the basis of results of … the European Communities (2009) a statistical estimate is given of the trends in the primary deficit for EU-12, after … the primary deficit, due to the relatively strong negative correlation between those two variables in the past, whilst the …

during recent years have produced substantial results. The fiscal deficit has been brought down significantly and, despite … déficits persistants. Les efforts déployés ces dernières années ont été très fructueux. Le déficit budgétaire a été nettement …

lower debt-to-GDP ratio. We find that consolidations tended to be larger when the initial deficit was high and adjustment …