Exact(5)
Saving, at over 40% of GDP, is high by international standards.
Even though investment as a proportion of GDP is high, China's accumulated investment in fixed assets is still low.
The share of public spending in GDP is high for a country with a tiny defence budget, a young (and thus healthy) population and jobless benefits that are scanty by the standards of rich countries in continental Europe.Some observers of Ireland's troubles reckon the attempt to tackle the deficit with austerity measures is self-defeating.
As quantum, domestic business and household debt at two times GDP is high - pretty similar, for example, to a debt burden on the UK private sector which has hobbled our economy.
Thus, the level of income of an individual contrasted with the general level of income may be better in describing well-being when GDP is high (Feschet et al. 2013).
Similar(55)
A partial explanation, says Kevin Daly of Goldman Sachs, might be that GDP is higher than the official figures currently suggest.
Government funding of higher education as a percentage of GDP is highest in Finland, Norway and Denmark, but when private expenditure is added in, funding is highest in the United States, Korea, Canada and Chile.
The IMF now says that the fiscal multiplier, measuring the impact of deficit cuts on GDP, is higher than it previously thought.
Jerven cites these discrepancies to argue that we cannot be certain whether one poor country's GDP is higher than another's, and that we should not use GDP alone to make judgments about which economic policies lead to growth.
This means spending as a share of GDP is higher than planned – even if the cash level of spending is as expected – which is why the chancellor is imposing a further round of spending cuts on departments".
Its national debt, at 65% of GDP, is higher than Britain's, but that is hardly surprising given the enormous cost of reunifying the two halves of Germany in the early 1990s.
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Justyna Jupowicz-Kozak
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