Countries can reduce their national debt by narrowing the budget deficit or achieving a primary surplus (the fiscal balance minus interest payments on outstanding debt).

And the German government s commitment to fiscal consolidation enabled it to achieve a surplus last year by 2018, the fiscal surplus is expected to amount to 1.5 of GDP.

Booming tax receipts have provided the government with a fiscal surplus.

Had this effort been continued for two more years, a primary surplus could have been realized.

After undergoing a lot of pain and suffering, Greece is close to posting a primary budget surplus.

If this effort had been continued for two more years, a primary budget surplus could have been realized.

These measures, plus a reduction in tax revenues, should reduce the primary surplus and contribute to reviving demand.

This means that the fiscal authorities have a big responsibility to target a structural fiscal surplus that is high enough to generate the space needed for real exchange rate depreciation.

It had a fiscal surplus before the crisis after the crisis, its deficit increased to more than 11 of GDP.

It is obvious that Greece cannot pay back all of its debt. But it should also be obvious that Japan will never be able to generate a primary fiscal surplus large enough to repay its government debt in the normal sense of the word repay.

Whereas Chile, for example, recorded a slight fiscal deficit in 2003, by 2006 it boasted an almost 8 of GDP surplus.

According to the International Monetary Fund, the budget deficit is declining, and the primary surplus (net revenues minus interest payments) is growing.

This invariably means that fiscal and monetary stability will become a priority while controlling the trade surplus has become a lower one.

Despite signs of a financial recovery since 1999 and a surplus of 35 million at the end of fiscal year 2001, the Territory's budget ran back into deficit in fiscal year 2003 ( 4.6 million).

The news from Greece these days has been dominated by the announcement that the government achieved a primary budget surplus (the fiscal balance minus debt service) in 2013. For the first time in decades, the Greek government has been able to pay for its expenditure with its own revenues.

Italy, for example, would save up to 4 of its GDP its budget would move into surplus and fiscal stimulus would replace austerity.

The consolidated primary surplus is 5 per cent of GDP and reserves have increased from nearly ten billion dollars to over twenty five billion.

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.

With a modest fiscal deficit, record low borrowing costs, and a huge current account surplus, Germany has the financial firepower to unleash a significant stimulus.

Koizumi sought smaller government and set clear numerical targets for fiscal consolidation, including a primary budget balance in 10 years.

Likewise, thanks to the discovery of gas, Bolivia turned its 8 of GDP fiscal deficit in 2003 into a surplus of 1.2 of GDP in 2006.

Second, China s fiscal surplus, growing foreign exchange reserves, and high savings rate have ensured the financial resources needed to maintain adequate investment and sufficiently rapid growth.

That is how the turnaround of the economy took place by reducing the fiscal deficit and converting the external balance of payments from deficit to surplus.

Owing to a strong increase in government revenues and expenditure discipline, Lebanon's primary budget surplus was LL 995.3 billion in 2004, or 3.3 per cent of GDP.

Slower fiscal retrenchment, space for investment in government budgets, growth friendly fiscal packages, and coordination of national policies with critical contributions from surplus countries can go a long way in helping Europe to overcome its crisis in the medium term.

Even with German level interest rates, Greece would have to run a primary surplus of at least 2 of GDP still quite large, and far from today s deficit.

Some countries have primary fiscal surpluses for the first time, and most emerging markets have brought down inflation through tight monetary policy.

After emerging from the crisis, indicators show a sustained growth in the economy, and a surplus in the fiscal external accounts, together with a recovery in national reserves.

(h) Surplus

Over the last three decades, the gradual decentralization of China s fiscal management system enabled it to regulate fiscal transfers to sub national governments, with the primary aim of clarifying revenue and expenditure at all levels of government.

To be sure, there has been some progress in the eurozone periphery in the last few years fiscal deficits have been reduced, and some countries are now running primary budget surpluses (the fiscal balance excluding interest payments).

The surplus creating fiscal policies established by Robert Rubin and company in the Clinton administration would have been very good for America had the Clinton administration been followed by a normal successor.

True, the economy was slowing when Bush took office, but he also inherited an enormous fiscal surplus, amounting to 2 of GDP, which he transformed into a yawning deficit, equaling 4.5 of GDP.

China s Shrinking Trade Surplus

This provocative behavior lost Greece all potential allies in France and Italy. Worse still, the time wasted on political grandstanding destroyed the primary budget surplus, which was Tsipras s trump card in the early negotiations.

A primary budget deficit (or surplus) is the difference between a government s outlays for everything excluding the interest payments that it must pay on its debt and its receipts from taxes and other charges.

After all, under any scenario, Greece will need to run a primary surplus and undertake structural reforms to transform its economy. And many insist that this will not happen, because Greece simply refuses to change.

The End of China s Surplus

Of eleven of the region s countries the five MERCOSUR economies, the four Andean Community countries, plus Chile and Mexico seven have had a fiscal surplus in 2006 and six will maintain it less easily in 2007.

Increased defense spending, together with the Bush tax cuts, is a key reason why America went from a fiscal surplus of 2 of GDP when Bush was elected to its parlous deficit and debt position today.

The last surplus was in 1974.

(p) Surplus due to Member States

Historically, poor regions of the world have often relied on what is called a vent for surplus model. This model entails exporting to other parts of the world primary products and natural resources such as agricultural produce or minerals.

There is an enormous surplus of commanders.

(b) Surplus deficit position of the fund