Examples of using Cyclically adjusted in English and their translations into Slovak
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Average cyclically adjusted primary balance as a percentage of potential GDP.
The widening in the government deficit is due to a deterioration in the cyclically adjusted primary balance.
Indeed, the cyclically adjusted budget balance improved by 1 pp. and reached 3.4% of GDP in 2011.
The widening in the government deficit is due to a deterioration in the cyclically adjusted primary balance, because of the expected expansionary fiscal stance.
The cyclically adjusted debt level uses the outturn GDP deflator, i.e. there is no correction for unexpectedly low infla- tion.
The fiscal policy stance is measured as the change in the cyclically adjusted primary balance net of government support to the financial sector.
(4) Cyclically adjusted balance net of one-off and temporary measures, recalculated by the Commission using the commonly agreed methodology.
The fiscal policy stance is measured as the change in the cyclically adjusted primary balance net of government support to the financial sector.
Therefore, the protracted subdued nominal GDP growth experienced by several Member States in the last couple of years can still impact the compliance with the debtrule even when assessed on the basis of the cyclically adjusted debt level.
It is measured as the change in the cyclically adjusted primary balance ratio net of government support to the financial sector.
Fiscal adjustment: improvement in the general governmentfiscal balance measured in structural terms(i.e. cyclically adjusted and without one-off measures).
It is measured as the change in the cyclically adjusted primary balance ratio net of government support to the financial sector.
Specifically it will be under the auspices of the Output Growth Working Group, whose mandate is mainly to ensure technically robust and transparent potential output andoutput gap indicators, and cyclically adjusted budget balances in the context of the SGP.
Box 7(i) The Commission considers that the cyclically adjusted debt- reduction benchmark does not fully capture the impact of very low inflation over extended periods.
Taking these factors into account, for Member States that have adopted the euro and for ERM2 Member States the country-specific medium-term budgetary objectives shall be specified within a defined range between -1% of GDP and balance orsurplus, in cyclically adjusted terms, net of one-off and temporary measures.
The aggregate fiscal effort,as expressed by the change in the cyclically adjusted budget balance net of one-off and temporary measures, should amount to¼% of GDP next year.
While the cyclically adjusted debt level is developed with the aim of excluding the influence of the economic cycle on the assessment on compliance with the debt rule, it is worth emphasizing that the adjustment only corrects for the difference in the potential and the actual GDP growth rate over three years.
Cyprus, Malta andPoland complied with the consolidation benchmark of a positive change in the cyclically adjusted budget balance of at least 0.5% of GDP, net of one-off and other temporary measures.
No homogenous estimates of cyclically adjusted balances are available for the Member States which joined the EU on 1 May 2004. Chart 3b therefore does not break down the changes in the fiscal balance into cyclical and non cyclical factors.
In particular, Member States of the euro zone orERM II should pursue an annual adjustment in cyclically adjusted terms, net of one-off and other temporary measures, of 0.5% of GDP as a benchmark.
According to this strategy, the structural balance, i.e. the cyclically adjusted balance net of one-off and temporary measures, will be in line with the medium-term objective specified in the Stability and Growth Pact, which is quantified in the convergence programme as a structural surplus. Moreover, government gross debt is planned to be reduced to 1.6% ECB Convergence Report May 2008.
Germanyʼs surplus is larger still on a cyclically adjusted basis at 9.4% of GDP, as is the case for 15 other Member States that have actual positions below cyclically adjusted ones.
According to this strategy, the structural balance, i.e. the cyclically adjusted balance net of one-off and temporary measures, will be above the medium-term objective specified in the Stability and Growth Pact, which is quantified in the convergence programme as a structural deficit of 1% of GDP.
According to this strategy, until 2009, the structural deficit, i.e. the cyclically adjusted deficit net of one-off and temporary measures, will be above the medium-term objective specified in the Stability and Growth Pact, which is quantified in the convergence programme as a structural deficit of 0.8% of GDP.
According to this strategy, the structural deficit, i.e. the cyclically adjusted deficit net of one-off and temporary measures, will be above the medium-term objective specified in the Stability and Growth Pact, which is quantified in the convergence programme as a structural deficit of around 1.0% of GDP.
According to this strategy, in 2007 and 2008, the structural balance,i.e. the cyclically adjusted balance net of one-off and temporary measures, will be above the medium-term objective specified in the Stability and Growth Pact, which is quantified in the convergence programme as a structural deficit below 1% of GDP after 2008.
According to this strategy, before 2011, the structural deficit, i.e. the cyclically adjusted deficit net of one-off and temporary measures, will be above the medium-term objective specified in the Stability and Growth Pact, which is quantified in the convergence programme as a structural deficit of 1% of GDP in 2011. Moreover, government gross debt is planned to decrease to 42.3% of GDP in 2010.
