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The external current account has switched from a deficit of almost 10% of GDP in 2008 to a surplus, and not only because of import compression.
A deficit of almost A$41 billion ($37 billion) is projected to become a surplus in 2012-13, three years earlier than first forecast.
But far more dramatic has been the private sector's swing from a surplus of 5.4% of GDP in 1992 to a deficit of almost 7% late last year.
According to The Sun, the orchestra has a $1.7 million annual budget and was facing a deficit of almost $200,000 as of two months ago.
Now, debt is currently slightly over 70 percent of GDP; with 2 percent growth and 2 percent inflation, that means that a deficit of almost 3 percent of GDP, say $450 billion, is consistent with a stable debt ratio.
In late 2009, the government announced that it had racked up enough debt to be running a deficit of almost thirteen per cent of G.D.P., sparking fears of a default.
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Many blame the government, which has not passed a significant reform for years while running a fiscal deficit of almost a tenth of GDP, including the states and off-balance-sheet items (see chart 2).
But Germany and the European Central Bank (ECB) took a hard line, arguing that the bigger risk to the euro's stability came from bailing out a profligate member state which has notched up a budget deficit of almost 13% and a national debt of nearly €300bn.
Early estimates of the cost of the quake for major insurers were put at $10bn to $15bn£6.2bnbn to £9.3bn), while the leading economist Nouriel Roubini – known as Dr Doom for predicting the credit crunch – warned that the quake could not have hit at a worse time for a Japanese economy struggling with a budget deficit of almost 10% of gross domestic product.
The OTB takes in $1 billion-worth of bets each year, yet it is running a structural deficit of almost $600,000 a month and has been operating in the red for years; it could be broke by next March.
—Binyamin Appelbaum _____ On Mr. Trump's claim that "we have a trade deficit of almost $800 billion a year," blaming trade deals for this.
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