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The most dramatic decline occurred in Ireland, where the deficit shrank to 13.4 percent of G.D.P., from 30.9 percent in 2010.
For all 27 European Union nations, the deficit shrank to 4.4 percent in 2011 from 6.5 percent a year earlier, even as debt grew to 82.5 percent of G.D.P. from 80 percent.
Although the deficit shrank, Spain fell short of its goal of reducing the 2012 spending gap to 6.3 percent of G.D.P., as the government had promised its euro zone partners.
In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP.
The BHS pension scheme was closed to new members in 2005 and the deficit shrank from £74.7m that year until it had a £3.4m surplus in March 2008.
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This would mean the deficit shrinking more slowly, to 3.8% of GDP this year and 3.5% in 2006.
What is really galling is that, in order to make the deficit shrink, the Treasury assumes that the economy will start growing again at the end of this year and expand by 3.5% in 2011.
(The United States currently spends a bit more than 20percentt of its gross domestic product, raises about 17.5percentt in taxes, and borrows the difference). The CBO shows the deficit shrinking to essentially zero over the next decade.
By excluding the payments, the deficit shrinks from 12percentt of the gross national product, which the I.M.F., earlier in the negotiations, urged Mexico to cut in half, to the range of 2percentto3percentcent.
If the economy grows faster than its current 2percentt annualized rate, the deficit shrinks in proportion.
In the year to February, the trade deficit shrank to $6.9 billion.Argentina's economy shrank by 3.6% in the year to the fourth quarter, although it grew by 0.8% compared with the third quarter.
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