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Now many expect a surplus of about $34 billion, up from a record surplus of $33.7 billion in 2004, according to a central bank survey.
Most economists still expect a surplus for the year as a whole, but a much reduced one of perhaps 1% of GDP, down from a peak of 4.8% in 2007.Japan has had a current-account surplus in every year since 1981, because of a surfeit of domestic saving over investment.
The analysis also found that the city will end the current fiscal year on June 30 with a surplus of $3.5 billion, slightly greater than Mayor Michael R. Bloomberg has projected, and should expect a surplus of $400 million in the 2007 fiscal year, which starts July 1.
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Next year, 2001-02, the chancellor expects a surplus of £6 billion, up from the £5 billion he was expecting last March.
For now, a precariously balanced budget is projected through 2011, when the agency expects a surplus of $1 million.
The State Comptroller's Office said on Tuesday that it expected a surplus of $327.8 million when the current fiscal year ends in June.
And California, which faced a $26 billion deficit two years ago, expects a surplus of between $1.2 billion and $4.4 billion this year, thanks to a combination of tax increases, budget cuts and an improving economy.
Having run a budget deficit of 4.4% of GDP in the last fiscal year, it expects a surplus in the fiscal year ending on June 30th 2013, including the proceeds from a mining tax.Should it tighten its belt faster?
Even so, the government expects a surplus of $20 billion: although they save less than they did, the Koreans are still a thrifty lot.In this section Lazarus of the East?
Japan posted a trade deficit of 63.9 billion yen ($668.5 million) in October, whereas analysts had been expecting a surplus.
China's Iron and Steel Association reportedly expects a surplus of iron ore for 2009 because of a downturn in construction and manufacturing.
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