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Deficit Reduction

General Government Fiscal Balance - Percentage of GDP


Canada is the only G-7 country projecting net surpluses in 2007 & 2008.

  Actual Projections
 COUNTRY 2004  2005  2006  2007  2008 
 Canada0.5 1.4 0.9 0.6 0.7 
 France*-3.7 -2.9 -2.6 -2.6 -2.4 
 U.K.-3.1 -3.0 -2.5 -2.4 -2.2 
 Germany-3.7 -3.2 -1.7 -1.3 -1.3 
 U.S.A.-4.6 -3.7 -2.6 -2.5 -2.5 
 Italy-3.4 -4.1 -4.4 -2.2 -2.4 
 Japan-6.2 -4.8 -4.3 -3.8 -3.5 

Source: International Monetary Fund, 2007 World Economic Outlook (10/2007)

NOTES:
* Adjusted for valuation changes of the foreign exchange stabilization fund.
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