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.
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.
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.
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.
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?
China's Iron and Steel Association reportedly expects a surplus of iron ore for 2009 because of a downturn in construction and manufacturing.
Trade figures on Monday did show that China's exports and imports in September were far higher than expected, giving a surplus of $31bn £20bnn).
Economists had expected a small surplus of £50m in one of the strongest months of the year for tax receipts, but an increase in government spending resulted in the state posting a deficit of £239m instead.
Japan posted a trade deficit of 63.9 billion yen ($668.5 million) in October, whereas analysts had been expecting a surplus.
