Holland, Dawn; Barrell, Ray; Choy, Amanda - National Institute of Economic and Social Research - 2004
to 2.4 per cent this year. The American budget deficit will amount to 5.4 per cent of GDP this year and 4.9 per cent in … GDP in 2004 and 2005. Germany will run a deficit of 3.6 per cent of GDP this year and 3.2 per cent in 2005. Italy's budget … deficit will be 2.8 per cent of GDP in 2004 and 3.2 per cent next year. …