The Debt-to-GDP ratio continues to decline to 38.1% as of March 2014 from a record high of 78% in 2004.
However, if Europe continues to decline in terms of GDP, we will be very concerned.
3: GDP will continue to decline until at best the fourth quarter.
If the GDP had continued to decline yet unemployment had fallen, my statement would have been tested, and it would have failed.
Our estimate indicates that even after recognizing that energy intensity of GDP would continue to decline as in the past, the total electricity generation by the middle of the century would be an order of magnitude higher than the generation in the fiscal year 2002 2003.
Moreover, the emissions per GDP in 2020 is significantly lower than that in 2005, decreasing by 46% 50% % in 2020, which is consistent with the target of carbon emission intensity in 2009; and the emissions per GDP will continue to decline by 30% 40% % until 2030 on the basis of 2020.
Overall, public debt-to-GDP ratios have continued to decline, from a regional average of 37percentt in 2004-08 to some 33percentt in 2010-13 (see Chart 3).
