STATISTICAL APPENDIX
International Monetary Fund | October 2015 
171
Table A3. Advanced Economies: Components of Real GDP (continued)
(Annual percent change)
Averages
Projections
1997–2006
2007–16
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Final Domestic Demand
Advanced Economies
2.9
1.1
2.3
–0.1
–2.6
1.7
1.3
1.0
0.9
1.8
2.2
2.5
United States
3.7
1.3
1.4
–0.9
–3.1
1.5
1.7
1.9
1.2
2.5
3.0
3.6
Euro Area1
2.3
0.3
2.6
0.5
–2.7
0.5
0.3
–1.5
–0.9
1.0
1.7
1.5
Germany
1.0
1.1
1.1
1.1
–1.4
1.4
2.5
0.8
0.3
1.7
1.9
1.5
France
2.4
0.9
3.0
0.7
–1.5
1.8
0.9
0.3
0.5
0.5
1.2
1.5
Italy
1.9
–0.9
1.1
–1.2
–2.9
0.8
–0.8
–4.5
–2.8
–0.6
0.6
1.1
Spain
4.8
–0.5
4.1
–0.5
–5.9
–0.7
–2.6
–4.2
–2.7
2.1
3.8
2.4
Japan
0.6
0.5
0.8
–1.6
–2.3
2.0
0.7
2.4
2.3
–0.2
0.0
0.8
United Kingdom
3.4
1.1
2.8
–0.7
–4.1
1.1
0.4
1.3
1.5
3.3
3.3
2.6
Canada
3.8
1.9
3.7
2.9
–1.9
5.0
2.5
2.5
1.5
1.6
0.1
1.0
Other Advanced Economies2
3.2
2.4
4.8
1.2
–0.6
4.4
2.8
2.1
2.1
2.1
2.6
3.0
Memorandum
Major Advanced Economies
2.7
1.0
1.6
–0.5
–2.7
1.6
1.4
1.3
1.0
1.7
2.1
2.5
Stock Building3
Advanced Economies
0.0
0.0
0.0
–0.2
–1.2
1.3
0.1
–0.2
0.0
0.0
0.0
0.0
United States
0.0
0.0
–0.2
–0.5
–0.8
1.5
–0.1
0.1
0.1
0.1
0.3
0.0
Euro Area1
0.0
–0.1
0.2
–0.2
–1.2
0.9
0.4
–0.9
0.2
–0.1
–0.2
0.0
Germany
–0.1
–0.1
0.7
–0.1
–1.7
1.4
0.5
–1.6
0.5
–0.3
–0.6
0.0
France
0.1
0.0
0.1
–0.2
–1.1
0.3
1.1
–0.6
0.2
0.2
–0.1
0.0
Italy
0.0
0.0
0.2
–0.1
–1.2
1.3
0.2
–1.1
0.3
–0.1
0.2
–0.1
Spain
0.0
0.0
0.0
0.1
–0.2
0.2
0.0
–0.2
–0.1
0.2
0.0
0.0
Japan
0.0
0.0
0.3
0.2
–1.5
0.9
–0.2
0.2
–0.4
0.1
0.4
0.0
United Kingdom
0.0
–0.1
–0.1
–0.5
–0.6
1.5
–0.2
0.1
0.3
0.3
–1.0
–0.3
Canada
0.1
0.0
–0.1
0.0
–0.8
0.2
0.8
–0.2
0.4
–0.2
0.1
–0.2
Other Advanced Economies2
0.0
0.0
0.1
0.4
–2.0
1.9
0.2
–0.3
–0.8
0.2
0.0
0.0
Memorandum
Major Advanced Economies
0.0
0.0
0.0
–0.3
–1.0
1.2
0.1
–0.2
0.1
0.0
0.1
–0.1
Foreign Balance3
Advanced Economies
–0.1
0.2
0.4
0.5
0.3
0.1
0.3
0.4
0.3
0.0
–0.2
–0.2
United States
–0.6
0.1
0.6
1.1
1.2
–0.5
0.0
0.1
0.2
–0.2
–0.8
–0.8
Euro Area1
0.1
0.4
0.3
0.1
–0.6
0.6
1.0
1.5
0.4
0.0
0.1
0.2
Germany
0.5
0.3
1.6
–0.1
–2.6
1.1
0.9
1.5
–0.4
0.4
0.4
0.1
France
–0.1
–0.1
–0.8
–0.3
–0.4
–0.1
0.0
0.5
0.0
–0.5
0.0
0.0
Italy
–0.4
0.4
0.2
0.2
–1.3
–0.3
1.2
2.8
0.7
0.3
–0.1
0.4
Spain
–0.8
0.9
–0.6
1.6
2.8
0.5
2.1
2.2
1.4
–0.8
–0.6
0.2
Japan
0.4
0.0
1.0
0.2
–2.0
2.0
–0.8
–0.8
–0.2
0.3
0.2
0.2
United Kingdom
–0.5
0.1
–0.4
1.1
0.7
–0.9
1.4
–0.8
0.0
–0.6
0.2
–0.1
Canada
–0.3
–0.3
–1.5
–1.9
0.0
–2.0
–0.4
–0.4
0.2
1.1
0.7
0.9
Other Advanced Economies2
0.6
0.5
0.8
0.3
1.5
–0.1
0.4
0.5
0.8
0.4
0.0
0.0
Memorandum
Major Advanced Economies
–0.2
0.1
0.5
0.5
0.0
0.0
0.1
0.2
0.1
0.0
–0.3
–0.3
1Data for Lithuania are included in the euro area aggregates but were excluded in the April 2015 World Economic Outlook. 
2Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.
3Changes expressed as percent of GDP in the preceding period.
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WORLD ECONOMIC OUTLOOK: ADJUSTING TO LOWER COMMODITY PRICES
172 
International Monetary Fund | October 2015
Table A4. Emerging Market and Developing Economies: Real GDP
(Annual percent change)
Average 
Projections
1997–2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
Commonwealth of Independent States1,2
5.5
9.0
5.3
–6.3
4.6
4.8
3.4
2.2
1.0
–2.7
0.5
2.5
Russia
5.0
8.5
5.2
–7.8
4.5
4.3
3.4
1.3
0.6
–3.8
–0.6
1.5
Excluding Russia
6.6
10.4
5.6
–2.5
5.0
6.2
3.6
4.2
1.9
–0.1
2.8
4.6
Armenia
9.4
13.7
6.9
–14.1
2.2
4.7
7.1
3.5
3.4
2.5
2.2
3.5
Azerbaijan
12.5
25.0
10.8
9.3
5.0
0.1
2.2
5.8
2.8
4.0
2.5
3.4
Belarus
7.6
8.7
10.3
0.1
7.7
5.5
1.7
1.0
1.6
–3.6
–2.2
1.6
Georgia
6.4
12.6
2.6
–3.7
6.2
7.2
6.4
3.3
4.8
2.0
3.0
5.0
Kazakhstan
7.4
8.9
3.3
1.2
7.3
7.5
5.0
6.0
4.3
1.5
2.4
4.5
Kyrgyz Republic
4.3
8.5
7.6
2.9
–0.5
6.0
–0.9
10.5
3.6
2.0
3.6
5.3
Moldova 
3.3
3.0
7.8
–6.0
7.1
6.8
–0.7
9.4
4.6
–1.0
1.5
4.0
Tajikistan
7.2
7.8
7.9
3.9
6.5
7.4
7.5
7.4
6.7
3.0
3.4
5.0
Turkmenistan
11.9
11.1
14.7
6.1
9.2
14.7
11.1
10.2
10.3
8.5
8.9
8.2
Ukraine3
4.6
8.2
2.2
–15.1
0.3
5.5
0.2
0.0
–6.8
–9.0
2.0
4.0
Uzbekistan
5.2
9.5
9.0
8.1
8.5
8.3
8.2
8.0
8.1
6.8
7.0
6.5
Emerging and Developing Asia
7.1
11.2
7.3
7.5
9.6
7.9
6.8
7.0
6.8
6.5
6.4
6.5
Bangladesh
5.6
6.5
5.5
5.3
6.0
6.5
6.3
6.0
6.3
6.5
6.8
6.7
Bhutan
7.0
12.6
10.8
5.7
9.3
10.1
6.4
4.9
6.4
7.7
8.4
6.5
Brunei Darussalam
1.9
0.1
–2.0
–1.8
2.7
3.7
0.9
–2.1
–2.3
–1.2
3.2
5.0
Cambodia
8.9
10.2
6.7
0.1
6.0
7.1
7.3
7.4
7.0
7.0
7.2
7.3
China
9.4
14.2
9.6
9.2
10.6
9.5
7.7
7.7
7.3
6.8
6.3
6.3
Fiji
2.2
–0.9
1.0
–1.4
3.0
2.7
1.8
4.6
5.3
4.3
3.7
3.7
India
6.6
9.8
3.9
8.5
10.3
6.6
5.1
6.9
7.3
7.3
7.5
7.7
Indonesia
2.5
6.3
7.4
4.7
6.4
6.2
6.0
5.6
5.0
4.7
5.1
6.0
Kiribati
1.9
2.2
–0.8
0.3
–0.9
–0.2
3.4
2.4
3.7
3.1
1.8
1.5
Lao P.D.R.
6.2
7.8
7.8
7.5
8.1
8.0
7.9
8.0
7.4
7.5
8.0
7.4
Malaysia
4.3
6.3
4.8
–1.5
7.5
5.3
5.5
4.7
6.0
4.7
4.5
5.0
Maldives
8.4
10.8
13.3
–1.8
6.6
6.6
1.6
–4.8
6.1
2.9
3.1
4.7
Marshall Islands
. . .
3.8
–2.0
–1.7
6.1
0.0
4.7
3.0
0.5
1.7
2.2
1.6
Micronesia
0.5
–2.1
–2.5
0.9
3.2
1.8
0.0
–3.9
–1.6
–0.2
1.7
0.7
Mongolia
5.3
8.8
7.8
–2.1
7.3
17.3
12.3
11.6
7.8
3.5
3.6
9.1
Myanmar
. . .
12.0
3.6
5.1
5.3
5.6
7.3
8.4
8.5
8.5
8.4
7.7
Nepal
4.0
3.4
6.1
4.5
4.8
3.4
4.8
4.1
5.4
3.4
4.4
3.8
Palau
. . .
0.0
–4.8
–10.5
3.7
4.7
3.2
–1.8
4.9
4.0
2.7
2.0
Papua New Guinea
1.0
7.2
6.6
6.1
7.7
10.7
8.1
5.5
8.5
12.3
3.0
3.2
Philippines
4.0
6.6
4.2
1.1
7.6
3.7
6.7
7.1
6.1
6.0
6.3
6.5
Samoa
3.6
1.1
2.9
–6.4
–2.3
6.2
1.2
–1.1
1.9
2.6
1.6
2.0
Solomon Islands
0.3
6.4
7.1
–4.7
6.9
12.9
4.7
3.0
1.5
3.3
3.0
3.6
Sri Lanka
4.5
6.8
6.0
3.5
8.0
8.2
6.3
7.3
7.4
6.5
6.5
6.5
Thailand
3.0
5.4
1.7
–0.7
7.5
0.8
7.3
2.8
0.9
2.5
3.2
3.2
Timor-Leste4
. . .
11.4
14.2
13.0
9.4
9.5
6.4
2.8
4.5
4.3
5.0
6.0
Tonga
1.0
–1.1
1.8
2.6
3.1
1.3
–1.1
–0.3
2.3
2.7
2.4
0.7
Tuvalu
. . .
6.4
8.0
–4.4
–2.7
8.5
0.2
1.3
2.2
3.5
4.0
1.6
Vanuatu
2.5
5.2
6.5
3.3
1.6
1.2
1.8
2.0
2.3
–2.0
5.0
2.5
Vietnam
6.9
7.1
5.7
5.4
6.4
6.2
5.2
5.4
6.0
6.5
6.4
6.0
Emerging and Developing Europe
4.1
5.5
3.1
–3.0
4.8
5.4
1.3
2.9
2.8
3.0
3.0
3.4
Albania
5.1
5.9
7.5
3.4
3.7
2.5
1.6
1.4
1.9
2.7
3.4
4.2
Bosnia and Herzegovina
7.8
6.0
5.6
–2.7
0.8
1.0
–1.2
2.5
1.1
2.0
3.0
4.0
Bulgaria
3.5
6.9
5.8
–5.0
0.7
2.0
0.5
1.1
1.7
1.7
1.9
2.5
Croatia
3.8
5.2
2.1
–7.4
–1.7
–0.3
–2.2
–1.1
–0.4
0.8
1.0
1.8
Hungary
4.0
0.5
0.9
–6.6
0.8
1.8
–1.5
1.5
3.6
3.0
2.5
2.1
Kosovo
. . .
8.3
4.5
3.6
3.3
4.4
2.8
3.4
2.7
3.2
3.8
4.1
FYR Macedonia
2.9
6.5
5.5
–0.4
3.4
2.3
–0.5
2.7
3.8
3.2
3.2
3.8
Montenegro
. . .
10.7
6.9
–5.7
2.5
3.2
–2.5
3.3
1.5
3.2
4.9
3.3
Poland
4.2
7.2
3.9
2.6
3.7
4.8
1.8
1.7
3.4
3.5
3.5
3.6
Romania
2.7
6.9
8.5
–7.1
–0.8
1.1
0.6
3.4
2.8
3.4
3.9
3.3
Serbia
. . .
5.9
5.4
–3.1
0.6
1.4
–1.0
2.6
–1.8
0.5
1.5
4.0
Turkey
4.3
4.7
0.7
–4.8
9.2
8.8
2.1
4.2
2.9
3.0
2.9
3.5
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STATISTICAL APPENDIX
International Monetary Fund | October 2015 
173
Table A4. Emerging Market and Developing Economies: Real GDP (continued)
(Annual percent change)
Average 
Projections
1997–2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
Latin America and the Caribbean
3.1
5.7
3.9
–1.3
6.1
4.9
3.1
2.9
1.3
–0.3
0.8
2.8
Antigua and Barbuda
4.5
7.1
1.5
–10.7
–8.5
–1.9
3.6
1.5
4.2
2.2
2.1
2.7
Argentina5
2.6
8.0
3.1
0.1
9.5
8.4
0.8
2.9
0.5
0.4
–0.7
0.2
The Bahamas
3.2
1.4
–2.3
–4.2
1.5
0.6
2.2
0.0
1.0
1.2
2.2
1.5
Barbados
2.5
1.8
0.4
–4.0
0.3
0.8
0.3
0.0
0.2
1.0
1.1
2.0
Belize
6.0
1.1
3.2
0.7
3.3
2.1
3.8
1.5
3.6
2.2
3.2
2.4
Bolivia
3.3
4.6
6.1
3.4
4.1
5.2
5.1
6.8
5.5
4.1
3.5
3.5
Brazil
2.7
6.0
5.0
–0.2
7.6
3.9
1.8
2.7
0.1
–3.0
–1.0
2.5
Chile
4.1
5.2
3.2
–1.0
5.7
5.8
5.5
4.3
1.9
2.3
2.5
3.5
Colombia
2.7
6.9
3.5
1.7
4.0
6.6
4.0
4.9
4.6
2.5
2.8
4.1
Costa Rica
5.3
7.9
2.7
–1.0
5.0
4.5
5.2
3.4
3.5
3.0
4.0
4.3
Dominica
2.0
6.4
7.1
–1.2
0.7
–0.1
–1.3
0.6
3.9
2.8
3.3
1.9
Dominican Republic
5.5
8.5
3.1
0.9
8.3
2.8
2.6
4.8
7.3
5.5
4.5
4.0
Ecuador
3.2
2.2
6.4
0.6
3.5
7.9
5.2
4.6
3.8
–0.6
0.1
1.8
El Salvador
2.9
3.8
1.3
–3.1
1.4
2.2
1.9
1.8
2.0
2.3
2.5
2.0
Grenada
5.0
6.1
0.9
–6.6
–0.5
0.8
–1.2
2.3
5.7
3.4
2.4
2.5
Guatemala
3.5
6.3
3.3
0.5
2.9
4.2
3.0
3.7
4.2
3.8
3.7
3.5
Guyana
1.3
7.0
2.0
3.3
4.4
5.4
4.8
5.2
3.8
3.2
4.9
3.2
Haiti
0.8
3.3
0.8
3.1
–5.5
5.5
2.9
4.2
2.7
2.5
3.2
3.5
Honduras
4.3
6.2
4.2
–2.4
3.7
3.8
4.1
2.8
3.1
3.5
3.6
4.0
Jamaica
1.0
1.4
–0.8
–3.4
–1.5
1.4
–0.5
0.2
0.4
1.1
2.1
2.7
Mexico
3.3
3.1
1.4
–4.7
5.1
4.0
4.0
1.4
2.1
2.3
2.8
3.3
Nicaragua
3.9
5.3
2.9
–2.8
3.2
6.2
5.1
4.5
4.7
4.0
4.2
4.0
Panama
5.0
12.1
10.1
3.9
7.5
10.9
10.8
8.4
6.2
6.0
6.3
6.0
Paraguay
1.5
5.4
6.4
–4.0
13.1
4.3
–1.2
14.2
4.4
3.0
3.8
4.1
Peru
3.9
8.5
9.1
1.0
8.5
6.5
6.0
5.8
2.4
2.4
3.3
4.0
St. Kitts and Nevis
3.7
4.8
3.4
–3.8
–3.8
–1.9
–0.9
6.2
6.1
5.0
3.5
2.5
St. Lucia
2.4
0.6
2.8
–0.5
–1.7
0.7
–1.1
0.1
0.5
1.8
1.4
2.2
St. Vincent and the Grenadines
4.1
3.0
–0.5
–2.0
–2.3
0.2
1.3
2.3
–0.2
2.1
2.5
3.0
Suriname
4.1
5.1
4.1
3.0
5.1
5.3
3.1
2.8
1.8
1.5
0.5
3.0
Trinidad and Tobago
8.5
4.8
3.4
–4.4
–0.1
0.0
1.4
1.7
0.8
1.0
1.4
1.7
Uruguay
1.1
6.5
7.2
4.2
7.8
5.2
3.3
5.1
3.5
2.5
2.2
3.1
Venezuela
2.6
8.8
5.3
–3.2
–1.5
4.2
5.6
1.3
–4.0
–10.0
–6.0
0.0
Middle East, North Africa, Afghanistan, 
and Pakistan
4.8
6.3
5.2
2.2
4.9
4.5
5.0
2.3
2.7
2.5
3.9
4.5
Afghanistan
. . .
13.3
3.9
20.6
8.4
6.5
14.0
3.9
1.3
2.0
3.0
6.0
Algeria
4.1
3.4
2.4
1.6
3.6
2.8
2.6
2.8
3.8
3.0
3.9
3.5
Bahrain
5.2
8.3
6.2
2.5
4.3
2.1
3.6
5.3
4.5
3.4
3.2
3.3
Djibouti
2.2
5.1
5.8
5.0
3.5
4.5
4.8
5.0
6.0
6.5
7.0
6.0
Egypt
5.0
7.1
7.2
4.7
5.1
1.8
2.2
2.1
2.2
4.2
4.3
5.0
Iran6
4.4
9.1
0.9
2.3
6.6
3.7
–6.6
–1.9
4.3
0.8
4.4
4.4
Iraq
. . .
1.9
8.2
3.4
6.4
7.5
13.9
6.6
–2.1
0.0
7.1
7.1
Jordan
5.4
8.2
7.2
5.5
2.3
2.6
2.7
2.8
3.1
2.9
3.7
4.5
Kuwait
5.7
6.0
2.5
–7.1
–2.4
10.6
7.7
0.8
0.1
1.2
2.5
2.9
Lebanon
3.2
9.4
9.1
10.3
8.0
0.9
2.8
2.5
2.0
2.0
2.5
4.0
Libya 
3.5
6.4
2.7
–0.8
5.0
–62.1
104.5
–13.6
–24.0
–6.1
2.0
13.5
Mauritania
4.7
2.8
1.1
–1.0
4.8
4.4
6.0
5.5
6.9
4.1
6.4
4.0
Morocco
4.0
3.5
5.9
4.2
3.8
5.2
3.0
4.7
2.4
4.9
3.7
5.4
Oman
2.5
4.5
8.2
6.1
4.8
4.1
5.8
4.7
2.9
4.4
2.8
1.0
Pakistan
4.5
5.5
5.0
0.4
2.6
3.6
3.8
3.7
4.0
4.2
4.5
5.2
Qatar
11.8
18.0
17.7
12.0
19.6
13.4
4.9
4.6
4.0
4.7
4.9
2.8
Saudi Arabia
3.9
6.0
8.4
1.8
4.8
10.0
5.4
2.7
3.5
3.4
2.2
3.2
Sudan7
15.8
8.5
3.0
4.7
3.0
–1.3
–3.4
3.9
3.6
3.5
4.0
5.8
Syria8
2.9
5.7
4.5
5.9
3.4
. . .
. . .
. . .
. . .
. . .
. . .
. . .
Tunisia
4.9
6.3
4.5
3.1
2.6
–1.9
3.7
2.3
2.3
1.0
3.0
4.7
United Arab Emirates
6.2
3.2
3.2
–5.2
1.6
4.9
7.2
4.3
4.6
3.0
3.1
3.8
Yemen
4.5
3.3
3.6
3.9
7.7
–12.7
2.4
4.8
–0.2
–28.1
11.6
4.7
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WORLD ECONOMIC OUTLOOK: ADJUSTING TO LOWER COMMODITY PRICES
174 
International Monetary Fund | October 2015
Table A4. Emerging Market and Developing Economies: Real GDP (continued)
(Annual percent change)
Average
Projections
1997–2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
Sub-Saharan Africa
5.0
7.6
6.0
4.1
6.6
5.0
4.3
5.2
5.0
3.8
4.3
5.1
Angola
8.8
22.6
13.8
2.4
3.4
3.9
5.2
6.8
4.8
3.5
3.5
5.2
Benin
4.4
4.6
5.0
2.7
2.6
3.3
5.4
5.6
5.4
5.5
5.3
6.0
Botswana
4.7
8.3
6.2
–7.7
8.6
6.0
4.8
9.3
4.4
2.6
3.2
4.4
Burkina Faso
6.1
4.1
5.8
3.0
8.4
6.6
6.5
6.6
4.0
5.0
6.0
6.6
Burundi
2.8
3.4
4.9
3.8
5.1
4.2
4.0
4.5
4.7
–7.2
5.2
5.2
Cabo Verde
7.4
9.2
6.7
–1.3
1.5
4.0
1.1
1.0
1.8
3.5
3.7
4.2
Cameroon 
4.0
3.3
2.9
1.9
3.3
4.1
4.6
5.6
5.7
5.3
5.4
5.5
Central African Republic
1.6
4.6
2.1
1.7
3.0
3.3
4.1
–36.0
1.0
5.5
5.7
4.0
Chad
8.4
3.3
3.1
4.2
13.5
0.1
8.9
5.7
6.9
6.9
4.2
2.8
Comoros
2.4
0.5
1.0
1.8
2.1
2.2
3.0
3.5
2.0
1.0
2.2
4.0
Democratic Republic of the Congo
–0.1
6.3
6.2
2.9
7.1
6.9
7.1
8.5
9.2
8.4
7.3
5.2
Republic of Congo
3.4
–1.6
5.6
7.5
8.7
3.4
3.8
3.3
6.8
1.0
6.5
0.4
Côte d’Ivoire
1.1
1.8
2.5
3.3
2.0
–4.4
10.7
8.7
7.9
8.2
7.6
6.8
Equatorial Guinea
37.8
12.3
9.9
–4.5
–3.8
1.9
5.8
–6.5
–0.3
–10.2
–0.8
–1.8
Eritrea
1.5
1.4
–9.8
3.9
2.2
8.7
7.0
1.3
1.7
0.2
2.2
3.8
Ethiopia
5.6
11.8
11.2
10.0
10.6
11.4
8.7
9.8
10.3
8.7
8.1
7.5
Gabon
0.2
6.3
1.7
–2.3
6.3
7.1
5.3
5.6
4.3
3.5
4.9
5.5
The Gambia
3.6
3.6
5.7
6.4
6.5
–4.3
5.6
4.8
–0.2
4.7
5.5
5.9
Ghana
5.1
4.5
9.3
5.8
7.9
14.0
8.0
7.3
4.0
3.5
5.7
3.6
Guinea
3.3
1.8
4.9
–0.3
1.9
3.9
3.8
2.3
1.1
0.0
4.9
7.5
Guinea-Bissau
0.9
3.2
3.2
3.3
4.4
9.4
–1.8
0.8
2.5
4.7
4.8
5.0
Kenya
2.9
6.9
0.2
3.3
8.4
6.1
4.6
5.7
5.3
6.5
6.8
6.9
Lesotho
3.0
5.0
5.1
4.5
6.9
4.5
5.3
3.6
3.4
2.6
2.9
3.6
Liberia
. . .
12.7
6.0
5.1
6.1
7.4
8.2
8.7
0.7
0.9
5.6
7.6
Madagascar
3.4
6.4
7.2
–4.7
0.3
1.5
3.0
2.3
3.3
3.4
4.6
5.0
Malawi
2.8
9.6
7.6
8.3
6.9
4.9
1.9
5.2
5.7
4.0
5.0
6.0
Mali
4.9
4.3
5.0
4.5
5.8
2.7
0.0
1.7
7.2
5.0
5.0
4.5
Mauritius
4.3
5.9
5.5
3.0
4.1
3.9
3.2
3.2
3.6
3.2
3.8
3.6
Mozambique
8.5
7.4
5.8
6.5
7.1
7.4
7.1
7.4
7.4
7.0
8.2
17.6
Namibia
4.2
3.6
2.6
0.3
6.0
5.1
5.1
5.1
4.5
4.8
5.0
4.4
Niger
4.4
3.2
9.6
–0.7
8.4
2.2
11.8
4.6
6.9
4.3
5.4
9.0
Nigeria
7.2
9.1
8.0
9.0
10.0
4.9
4.3
5.4
6.3
4.0
4.3
5.1
Rwanda
8.4
7.6
11.2
6.2
6.3
7.5
8.8
4.7
6.9
6.5
7.0
7.5
São Tomé and Príncipe
3.8
0.6
8.1
4.0
4.5
4.8
4.5
4.0
4.5
5.0
5.2
6.0
Senegal
4.4
4.9
3.7
2.4
4.2
1.8
4.4
3.6
4.7
5.1
5.9
7.3
Seychelles
2.8
10.4
–2.1
–1.1
5.9
7.9
6.6
6.0
3.3
3.5
3.7
3.4
Sierra Leone
9.4
8.1
5.4
3.2
5.3
6.0
15.2
20.1
7.1
–23.9
–0.7
6.9
South Africa
3.4
5.4
3.2
–1.5
3.0
3.2
2.2
2.2
1.5
1.4
1.3
2.6
South Sudan
. . .
. . .
. . .
. . .
. . .
. . .
–52.4
29.3
2.9
–5.3
0.7
7.4
Swaziland
3.4
4.0
4.3
1.9
1.4
1.2
3.0
2.9
2.5
1.9
0.7
1.4
Tanzania
5.5
8.5
5.6
5.4
6.4
7.9
5.1
7.3
7.0
6.9
7.0
6.9
Togo
1.3
2.1
2.4
3.5
4.1
4.8
5.9
5.4
5.0
5.4
5.6
5.5
Uganda
6.8
8.1
10.4
8.1
7.7
6.8
2.6
3.9
4.8
5.2
5.5
6.4
Zambia
5.1
8.4
7.8
9.2
10.3
6.4
6.8
6.7
5.6
4.3
4.0
6.8
Zimbabwe9
. . .
–3.4
–16.6
7.5
11.4
11.9
10.6
4.5
3.3
1.4
2.4
3.4
1Data for some countries refer to real net material product (NMP) or are estimates based on NMP. The figures should be interpreted only as indicative of broad orders of magnitude because 
reliable, comparable data are not generally available. In particular, the growth of output of new private enterprises of the informal economy is not fully reflected in the recent figures. 
2Georgia, Turkmenistan, and Ukraine, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarity in economic 
structure.
3Data are based on the 2008 System of National Accounts. The revised national accounts data are available beginning in 2000 and exclude Crimea and Sevastopol from 2010 onward.
4In this table only, the data for Timor-Leste are based on non-oil GDP.
5The data for Argentina are officially reported data as revised in May 2014. On February 1, 2013, the IMF issued a declaration of censure, and in December 2013 called on Argentina to 
implement specified actions to address the quality of its official GDP data according to a specified timetable. On June 3, 2015, the Executive Board recognized the ongoing discussions with 
the Argentine authorities and their material progress in remedying the inaccurate provision of data since 2013, but found that some specified actions called for by the end of February 2015 
had not yet been completely implemented. The Executive Board will review this issue again by July 15, 2016, and in line with the procedures set forth in the IMF legal framework.
6For Iran, data and forecasts are based on GDP at market prices. Corresponding data used by the IMF staff for GDP growth at factor prices are 3.0 percent, –1.9 percent, and –6.8 percent 
for 2014/15, 2013/14, and 2012/13, respectively.
7Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.
8Data for Syria are excluded for 2011 onward because of the ongoing conflict and related lack of data.
9The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in U.S. dollars. IMF staff estimates of U.S. dollar 
values may differ from authorities’ estimates. Real GDP is in constant 2009 prices.
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STATISTICAL APPENDIX
International Monetary Fund | October 2015 
175
Table A5. Summary of Inflation
(
Percent)
Average
Projections
1997–2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
GDP Deflators
Advanced Economies
1.7
2.2
1.9
0.8
1.0
1.3
1.2
1.2
1.3
1.0
1.1
1.8
United States
2.1
2.7
2.0
0.8
1.2
2.1
1.8
1.6
1.6
1.0
1.2
2.2
Euro Area1
1.7
2.5
2.0
1.0
0.7
1.1
1.3
1.3
0.9
1.2
1.0
1.5
Japan
–1.0
–0.9
–1.3
–0.5
–2.2
–1.9
–0.9
–0.6
1.7
1.9
0.1
0.6
Other Advanced Economies2
2.0
2.8
2.9
1.0
2.3
2.0
1.3
1.3
1.2
0.6
1.6
2.2
Consumer Prices
Advanced Economies
2.0
2.2
3.4
0.2
1.5
2.7
2.0
1.4
1.4
0.3
1.2
2.1
United States
2.5
2.9
3.8
–0.3
1.6
3.1
2.1
1.5
1.6
0.1
1.1
2.4
Euro Area1,3
2.0
2.2
3.3
0.3
1.6
2.7
2.5
1.3
0.4
0.2
1.0
1.7
Japan
–0.1
0.1
1.4
–1.3
–0.7
–0.3
0.0
0.4
2.7
0.7
0.4
1.5
Other Advanced Economies2
1.9
2.1
3.8
1.4
2.4
3.3
2.1
1.7
1.5
0.6
1.6
2.2
Emerging Market and Developing Economies
8.7
6.6
9.4
5.2
5.8
7.3
6.0
5.8
5.1
5.6
5.1
4.5
Regional Groups
Commonwealth of Independent States4
20.5
9.7
15.5
11.1
7.1
9.8
6.2
6.4
8.1
15.9
8.9
4.8
Emerging and Developing Asia
4.2
5.4
7.6
2.8
5.1
6.5
4.7
4.8
3.5
3.0
3.2
3.7
Emerging and Developing Europe
24.2
6.0
8.0
4.8
5.6
5.4
6.0
4.3
3.8
2.9
3.5
4.2
Latin America and the Caribbean5
8.9
5.2
8.0
6.1
5.7
6.5
5.7
6.7
7.9
11.2
10.7
8.0
Middle East, North Africa, Afghanistan, and 
Pakistan
5.6
10.3
11.8
7.1
6.5
9.2
9.8
9.1
6.7
6.2
5.4
4.1
Middle East and North Africa
5.5
10.6
11.7
6.0
6.2
8.7
9.7
9.3
6.5
6.5
5.5
4.0
Sub-Saharan Africa
11.2
5.5
13.0
9.8
8.2
9.5
9.4
6.6
6.4
6.9
7.3
5.8
Memorandum
European Union
3.5
2.4
3.7
0.9
2.0
3.1
2.6
1.5
0.5
0.1
1.1
1.9
Low-Income Developing Countries
10.0
7.8
14.6
8.3
9.1
11.8
10.0
8.0
7.3
7.5
7.2
5.8
Analytical Groups
By Source of Export Earnings
Fuel
13.1
10.0
13.4
8.4
7.3
9.1
8.4
9.1
8.2
12.4
10.5
6.9
Nonfuel
7.4
5.5
8.2
4.3
5.4
6.8
5.3
5.0
4.3
4.0
3.8
3.9
Of Which, Primary Products6
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
By External Financing Source
Net Debtor Economies
9.6
5.9
9.3
6.8
6.3
7.4
6.7
6.2
5.6
5.5
5.1
4.4
Net Debtor Economies by  
Debt-Servicing Experience
Economies with Arrears and/or 
Rescheduling during 2010–14
10.7
10.6
15.1
13.8
10.1
10.0
7.8
6.6
10.7
15.6
8.5
5.4
Memorandum
Median Inflation Rate
Advanced Economies
2.1
2.2
4.0
0.9
1.8
3.3
2.6
1.3
0.7
0.2
1.4
2.0
Emerging Market and Developing Economies
5.0
6.0
10.3
3.9
4.2
5.5
4.6
4.0
3.3
3.4
3.4
3.4
1Data for Lithuania are included in the euro area aggregates but were excluded in the April 2015 World Economic Outlook. 
2Excludes the United States, euro area countries, and Japan.
3Based on Eurostat’s harmonized index of consumer prices.
4Georgia, Turkmenistan, and Ukraine, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarity in economic structure.
5Excludes Argentina. See note 6 to Table A7.
6Data are missing because of Argentina, which accounts for more than 30 percent of the weights of the group. See note 6 to Table A7.
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WORLD ECONOMIC OUTLOOK: ADJUSTING TO LOWER COMMODITY PRICES
176 
International Monetary Fund | October 2015
Table A6. Advanced Economies: Consumer Prices1
(Annual percent change)
End of Period2
Average 
Projections
Projections
1997–2006 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
2014
2015
2016
Advanced Economies
2.0
2.2
3.4
0.2
1.5
2.7
2.0
1.4
1.4
0.3
1.2
2.1
0.7
0.8
1.4
United States
2.5
2.9
3.8
–0.3
1.6
3.1
2.1
1.5
1.6
0.1
1.1
2.4
0.6
0.9
1.4
Euro Area3,4
2.0
2.2
3.3
0.3
1.6
2.7
2.5
1.3
0.4
0.2
1.0
1.7
–0.2
0.7
1.1
Germany
1.4
2.3
2.7
0.2
1.2
2.5
2.1
1.6
0.8
0.2
1.2
1.9
0.2
0.2
1.2
France
1.6
1.6
3.2
0.1
1.7
2.3
2.2
1.0
0.6
0.1
1.0
1.7
0.0
0.1
1.0
Italy
2.3
2.0
3.5
0.8
1.6
2.9
3.3
1.3
0.2
0.2
0.7
1.3
–0.1
1.9
0.8
Spain
2.9
2.8
4.1
–0.3
1.8
3.2
2.4
1.4
–0.2
–0.3
0.9
1.5
–1.0
0.7
0.9
Netherlands
2.4
1.6
2.2
1.0
0.9
2.5
2.8
2.6
0.3
1.0
1.3
1.9
–0.1
1.2
1.4
Belgium
1.8
1.8
4.5
0.0
2.3
3.4
2.6
1.2
0.5
0.7
1.1
1.7
–0.4
1.3
0.9
Austria
1.5
2.2
3.2
0.4
1.7
3.6
2.6
2.1
1.5
1.0
1.7
2.0
0.8
1.2
1.8
Greece
3.6
2.9
4.2
1.2
4.7
3.3
1.5
–1.2
–1.5
–0.4
0.0
1.4
–2.6
1.5
0.6
Portugal
2.8
2.4
2.7
–0.9
1.4
3.6
2.8
0.4
–0.2
0.6
1.3
1.7
–0.3
0.0
3.4
Ireland
3.1
2.9
3.1
–1.7
–1.6
1.2
1.9
0.5
0.3
0.2
1.5
2.0
0.2
0.2
0.8
Finland
1.5
1.6
3.9
1.6
1.7
3.3
3.2
2.2
1.2
0.0
1.3
2.0
0.6
0.4
1.3
Slovak Republic
6.9
1.9
3.9
0.9
0.7
4.1
3.7
1.5
–0.1
–0.1
1.4
2.0
–0.1
0.5
1.6
Lithuania
2.6
5.8
11.1
4.2
1.2
4.1
3.2
1.2
0.2
–0.4
1.6
2.0
–0.2
0.2
1.5
Slovenia
6.1
3.6
5.7
0.9
1.8
1.8
2.6
1.8
0.2
–0.4
0.7
1.7
0.2
–0.2
1.9
Luxembourg
2.4
2.7
4.1
0.0
2.8
3.7
2.9
1.7
0.7
0.3
1.6
2.4
–0.9
1.3
2.2
Latvia
4.4
10.1
15.2
3.2
–1.2
4.2
2.3
0.0
0.7
0.4
1.8
2.0
0.3
1.8
1.7
Estonia
4.9
6.7
10.6
0.2
2.7
5.1
4.2
3.2
0.5
0.2
1.6
2.2
0.0
0.4
2.1
Cyprus3
2.7
2.2
4.4
0.2
2.6
3.5
3.1
0.4
–0.3
–1.0
0.9
1.9
–1.0
–1.0
0.9
Malta
2.8
0.7
4.7
1.8
2.0
2.5
3.2
1.0
0.8
1.0
1.4
2.1
0.4
1.0
1.8
Japan
–0.1
0.1
1.4
–1.3
–0.7
–0.3
0.0
0.4
2.7
0.7
0.4
1.5
2.6
0.1
0.6
United Kingdom3
1.5
2.3
3.6
2.2
3.3
4.5
2.8
2.6
1.5
0.1
1.5
2.0
0.9
0.3
1.7
Korea
3.4
2.5
4.7
2.8
2.9
4.0
2.2
1.3
1.3
0.7
1.8
3.0
0.8
1.3
2.5
Canada
2.1
2.1
2.4
0.3
1.8
2.9
1.5
1.0
1.9
1.0
1.6
2.1
1.9
1.1
2.0
Australia
2.6
2.3
4.4
1.7
2.9
3.4
1.7
2.4
2.5
1.8
2.6
2.5
1.6
2.4
2.5
Taiwan Province of China
0.8
1.8
3.5
–0.9
1.0
1.4
1.9
0.8
1.2
–0.1
1.0
2.0
0.6
0.6
1.1
Switzerland
0.8
0.7
2.4
–0.5
0.7
0.2
–0.7
–0.2
0.0
–1.1
–0.2
1.0
–0.3
–1.2
0.3
Sweden
1.5
1.7
3.3
1.9
1.9
1.4
0.9
0.4
0.2
0.5
1.1
2.0
0.3
0.4
1.5
Singapore
0.7
2.1
6.6
0.6
2.8
5.2
4.6
2.4
1.0
0.0
1.8
1.8
0.0
0.7
2.6
Hong Kong SAR
–0.4
2.0
4.3
0.6
2.3
5.3
4.1
4.3
4.4
2.9
3.0
3.5
4.8
2.9
3.0
Norway
2.1
0.7
3.8
2.2
2.4
1.3
0.7
2.1
2.0
2.3
2.2
2.5
2.1
2.3
2.3
Czech Republic
3.9
2.9
6.3
1.0
1.5
1.9
3.3
1.4
0.4
0.4
1.5
2.0
0.1
0.5
1.9
Israel
3.1
0.5
4.6
3.3
2.7
3.5
1.7
1.5
0.5
–0.1
2.0
2.0
–0.2
0.7
2.2
Denmark
2.1
1.7
3.4
1.3
2.3
2.8
2.4
0.8
0.6
0.5
1.8
2.0
0.3
0.5
1.8
New Zealand
2.1
2.4
4.0
2.1
2.3
4.0
1.1
1.1
1.2
0.2
1.5
2.0
0.8
0.4
1.8
Iceland
3.9
5.1
12.7
12.0
5.4
4.0
5.2
3.9
2.0
2.1
4.5
2.5
0.8
3.6
4.8
San Marino
. . .
2.5
4.1
2.4
2.6
2.0
2.8
1.3
1.1
0.4
0.9
1.4
1.1
0.4
0.9
Memorandum
Major Advanced Economies
1.8
2.2
3.2
–0.1
1.4
2.6
1.9
1.3
1.5
0.2
1.1
2.1
0.8
0.7
1.3
1Movements in consumer prices are shown as annual averages.
2Monthly year-over-year changes and, for several countries, on a quarterly basis.
3Based on Eurostat’s harmonized index of consumer prices.
4Data for Lithuania are included in the euro area aggregates but were excluded in the April 2015 World Economic Outlook. 
STATISTICAL APPENDIX
International Monetary Fund | October 2015 
177
Table A7. Emerging Market and Developing Economies: Consumer Prices1
(Annual percent change)
End of Period2
Average
Projections
Projections
1997–2006 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
2014
2015
2016
Commonwealth of Independent States3,4
20.5
9.7
15.5
11.1
7.1
9.8
6.2
6.4
8.1
15.9
8.9
4.8
11.4
14.5
8.5
Russia
21.8
9.0
14.1
11.7
6.9
8.4
5.1
6.8
7.8
15.8
8.6
4.0
11.4
13.5
8.5
Excluding Russia
16.8
11.7
19.3
9.7
7.8
13.2
9.1
5.6
8.7
16.3
9.6
6.5
11.5
16.8
8.4
Armenia
4.1
4.6
9.0
3.5
7.3
7.7
2.5
5.8
3.0
4.3
3.4
4.0
4.6
3.4
4.0
Azerbaijan
2.6
16.6
20.8
1.6
5.7
7.9
1.0
2.4
1.4
5.0
4.2
4.5
–0.1
7.9
0.5
Belarus
61.8
8.4
14.8
13.0
7.7
53.2
59.2
18.3
18.1
15.1
14.2
11.4
16.2
16.9
12.3
Georgia
7.1
9.2
10.0
1.7
7.1
8.5
–0.9
–0.5
3.1
3.7
5.0
4.0
2.0
5.0
5.0
Kazakhstan
9.0
10.8
17.1
7.3
7.1
8.3
5.1
5.8
6.7
6.3
8.6
6.0
7.4
9.0
8.0
Kyrgyz Republic
11.0
10.2
24.5
6.8
7.8
16.6
2.8
6.6
7.5
8.3
9.0
5.5
10.5
10.1
7.8
Moldova 
14.9
12.4
12.7
0.0
7.4
7.6
4.6
4.6
5.1
8.4
7.4
6.5
4.7
9.0
7.3
Tajikistan
26.4
13.2
20.4
6.4
6.5
12.4
5.8
5.0
6.1
10.8
8.2
6.0
7.4
11.7
6.5
Turkmenistan
16.6
6.3
14.5
–2.7
4.4
5.3
5.3
6.8
6.0
7.0
6.0
4.7
4.2
4.7
7.3
Ukraine5
12.4
12.8
25.2
15.9
9.4
8.0
0.6
–0.3
12.1
50.0
14.2
5.0
24.9
45.8
12.0
Uzbekistan
24.0
12.3
12.7
14.1
9.4
12.8
12.1
11.2
8.4
9.7
9.2
10.0
9.8
9.1
9.5
Emerging and Developing Asia
4.2
5.4
7.6
2.8
5.1
6.5
4.7
4.8
3.5
3.0
3.2
3.7
3.1
3.0
3.2
Bangladesh
5.3
9.1
8.9
4.9
9.4
11.5
6.2
7.5
7.0
6.4
6.6
6.2
6.1
6.4
6.8
Bhutan
5.3
5.2
6.3
7.1
4.8
8.6
10.1
8.6
9.6
7.2
6.1
5.6
8.9
7.4
7.6
Brunei Darussalam
0.3
1.0
2.1
1.0
0.2
0.1
0.1
0.4
–0.2
0.0
0.1
0.1
–0.2
0.0
0.1
Cambodia
4.1
7.7
25.0
–0.7
4.0
5.5
2.9
3.0
3.9
1.1
1.8
3.2
1.0
1.9
2.8
China
0.9
4.8
5.9
–0.7
3.3
5.4
2.6
2.6
2.0
1.5
1.8
3.0
1.5
1.8
1.8
Fiji
2.9
4.8
7.7
3.7
3.7
7.3
3.4
2.9
0.5
2.8
2.8
2.8
0.1
2.8
2.8
India
5.4
5.9
9.2
10.6
9.5
9.4
10.2
10.0
5.9
5.4
5.5
4.9
5.3
5.4
5.6
Indonesia
14.0
6.7
9.8
5.0
5.1
5.3
4.0
6.4
6.4
6.8
5.4
4.1
8.4
4.6
4.7
Kiribati
1.7
3.6
13.7
9.8
–3.9
1.5
–3.0
–1.5
2.1
1.4
0.3
2.1
3.1
1.4
0.3
Lao P.D.R.
25.6
4.5
7.6
0.0
6.0
7.6
4.3
6.4
5.5
5.3
1.5
3.3
5.0
5.5
10.1
Malaysia
2.5
2.0
5.4
0.6
1.7
3.2
1.7
2.1
3.1
2.4
3.8
3.0
2.7
2.4
3.8
Maldives
1.9
6.8
12.0
4.5
6.1
11.3
10.9
4.0
2.5
1.0
2.5
4.1
1.2
1.3
3.0
Marshall Islands
. . .
2.6
14.7
0.5
1.8
5.4
4.3
1.9
1.1
–0.6
1.0
2.3
0.5
–0.6
1.0
Micronesia
1.9
3.6
6.6
7.7
3.7
4.3
6.3
2.1
0.9
–1.0
1.9
2.0
0.9
–1.0
1.9
Mongolia
9.9
8.2
26.8
6.3
10.2
7.7
15.0
8.6
12.9
7.6
7.5
6.5
10.7
7.1
6.8
Myanmar
. . .
30.9
11.5
2.2
8.2
2.8
2.8
5.7
5.9
12.2
11.8
6.6
7.4
13.3
10.2
Nepal
5.7
6.2
6.7
12.6
9.5
9.6
8.3
9.9
9.0
7.2
8.0
6.1
8.1
7.6
8.5
Palau
. . .
3.0
10.0
4.7
1.1
2.6
5.4
2.8
4.0
1.8
2.0
2.0
3.8
1.8
2.0
Papua New Guinea
8.9
0.9
10.8
6.9
5.1
4.4
4.5
5.0
5.3
6.0
5.4
5.0
6.3
6.0
5.0
Philippines
5.5
2.9
8.2
4.2
3.8
4.7
3.2
2.9
4.2
1.9
3.4
3.5
2.7
3.1
2.7
Samoa
4.6
5.6
11.6
6.3
0.8
5.2
2.0
0.6
–0.4
1.3
2.2
3.0
0.2
3.0
2.1
Solomon Islands
8.8
7.7
17.3
7.1
0.9
7.4
5.9
5.4
5.2
3.8
3.3
4.5
4.2
4.4
3.8
Sri Lanka
9.2
15.8
22.4
3.5
6.2
6.7
7.5
6.9
3.3
1.7
3.4
5.0
2.1
3.2
3.6
Thailand
3.1
2.2
5.5
–0.9
3.3
3.8
3.0
2.2
1.9
–0.9
1.5
2.2
0.6
–0.3
2.3
Timor-Leste
. . .
8.6
7.4
–0.2
5.2
13.2
10.9
9.5
0.7
1.1
2.4
3.3
0.3
1.9
2.9
Tonga
7.0
7.4
7.5
3.5
3.9
4.6
2.0
1.5
1.4
0.9
1.6
3.3
1.2
1.3
1.9
Tuvalu
. . .
2.3
10.4
–0.3
–1.9
0.5
1.4
2.0
3.3
4.7
3.5
2.6
3.3
4.4
3.3
Vanuatu
2.4
3.8
4.2
5.2
2.7
0.7
1.4
1.3
1.0
3.1
3.0
3.0
1.1
3.2
3.0
Vietnam
4.4
8.3
23.1
6.7
9.2
18.7
9.1
6.6
4.1
2.2
3.0
4.9
1.8
2.5
3.6
Emerging and Developing Europe
24.2
6.0
8.0
4.8
5.6
5.4
6.0
4.3
3.8
2.9
3.5
4.2
3.1
3.6
3.7
Albania
6.8
2.9
3.4
2.3
3.6
3.4
2.0
1.9
1.6
2.2
2.5
3.0
0.7
2.3
2.7
Bosnia and Herzegovina
2.8
1.5
7.4
–0.4
2.1
3.7
2.0
–0.1
–0.9
0.5
1.1
2.1
–0.5
1.0
1.6
Bulgaria
36.2
7.6
12.0
2.5
3.0
3.4
2.4
0.4
–1.6
–0.8
0.6
2.1
–2.0
0.3
0.9
Croatia
3.5
2.9
6.1
2.4
1.0
2.3
3.4
2.2
–0.2
–0.4
1.1
2.2
–0.5
0.4
1.3
Hungary
8.5
7.9
6.1
4.2
4.9
3.9
5.7
1.7
–0.2
0.3
2.3
3.0
–0.9
2.0
2.4
Kosovo
. . .
4.4
9.4
–2.4
3.5
7.3
2.5
1.8
0.4
–0.5
0.5
1.8
–0.4
0.0
1.5
FYR Macedonia
1.8
2.8
7.2
–0.6
1.7
3.9
3.3
2.8
–0.1
0.1
1.3
2.0
–0.4
0.8
1.7
Montenegro
. . .
3.4
9.0
3.6
0.7
3.1
3.6
2.2
–0.7
1.7
1.4
1.7
–0.3
1.8
1.5
Poland
5.8
2.5
4.2
3.4
2.6
4.3
3.7
0.9
0.0
–0.8
1.0
2.5
–1.0
0.1
1.6
Romania
35.7
4.8
7.8
5.6
6.1
5.8
3.3
4.0
1.1
–0.4
–0.2
2.5
0.8
–0.5
1.1
Serbia
26.7
6.0
12.4
8.1
6.1
11.1
7.3
7.7
2.1
1.6
3.4
4.0
1.8
2.5
4.1
Turkey
41.3
8.8
10.4
6.3
8.6
6.5
8.9
7.5
8.9
7.4
7.0
6.5
8.2
8.0
6.5
WORLD ECONOMIC OUTLOOK: ADJUSTING TO LOWER COMMODITY PRICES
178 
International Monetary Fund | October 2015
Table A7. Emerging Market and Developing Economies: Consumer Prices1(continued)
(Annual percent change)
End of Period2
Average
Projections
Projections
1997–2006 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
2014
2015
2016
Latin America and the Caribbean6
8.9
5.2
8.0
6.1
5.7
6.5
5.7
6.7
7.9
11.2
10.7
8.0
8.2
12.0
10.5
Antigua and Barbuda
1.7
1.4
5.3
–0.6
3.4
3.5
3.4
1.1
1.1
0.8
1.2
2.5
1.3
0.5
1.6
Argentina6
. . .
8.8
8.6
6.3
10.5
9.8
10.0
10.6
. . .
16.8
25.6
21.1
23.9
19.3
26.4
The Bahamas
1.7
2.4
4.4
1.7
1.6
3.1
1.9
0.4
1.2
1.7
1.3
2.0
0.2
1.6
1.3
Barbados
2.8
4.0
8.1
3.7
5.7
9.4
4.5
1.8
1.9
1.2
0.8
2.4
2.3
0.6
1.1
Belize
1.6
2.3
6.4
–1.1
0.9
1.7
1.2
0.5
1.2
0.1
1.2
2.0
–0.2
0.7
1.7
Bolivia
3.9
6.7
14.0
3.3
2.5
9.9
4.5
5.7
5.8
4.3
4.9
5.0
5.2
4.2
5.0
Brazil
6.9
3.6
5.7
4.9
5.0
6.6
5.4
6.2
6.3
8.9
6.3
4.6
6.4
9.3
5.5
Chile
3.5
4.4
8.7
1.5
1.4
3.3
3.0
1.9
4.4
4.4
3.7
3.0
4.6
4.2
3.5
Colombia
9.3
5.5
7.0
4.2
2.3
3.4
3.2
2.0
2.9
4.4
3.5
3.0
3.7
4.2
3.3
Costa Rica
11.3
9.4
13.4
7.8
5.7
4.9
4.5
5.2
4.5
2.3
3.1
4.0
5.1
2.1
4.0
Dominica
1.5
3.2
6.4
0.0
2.8
1.1
1.4
0.0
0.8
–0.2
0.6
2.1
0.5
0.8
0.3
Dominican Republic
12.4
6.1
10.6
1.4
6.3
8.5
3.7
4.8
3.0
1.1
3.5
4.0
1.6
2.0
3.5
Ecuador
25.4
2.3
8.4
5.2
3.6
4.5
5.1
2.7
3.6
4.1
2.9
1.5
3.7
3.7
2.5
El Salvador
3.1
4.6
7.3
0.5
1.2
5.1
1.7
0.8
1.1
–1.2
1.2
2.0
0.5
–1.0
2.0
Grenada
2.0
3.9
8.0
–0.3
3.4
3.0
2.4
0.0
–0.8
–0.7
2.0
1.9
–0.6
0.3
2.2
Guatemala
7.1
6.8
11.4
1.9
3.9
6.2
3.8
4.3
3.4
2.9
2.8
4.0
2.9
2.8
3.3
Guyana
5.4
12.2
8.1
3.0
4.3
4.4
2.4
2.2
1.0
1.1
2.3
3.9
1.2
1.0
3.5
Haiti
15.9
9.0
14.4
3.4
4.1
7.4
6.8
6.8
3.9
7.4
8.9
5.0
5.3
10.3
5.9
Honduras
10.3
6.9
11.4
5.5
4.7
6.8
5.2
5.2
6.1
3.8
5.4
5.4
5.8
4.7
5.2
Jamaica
9.3
9.2
22.0
9.6
12.6
7.5
6.9
9.4
6.7
5.0
6.5
6.0
4.0
6.1
6.8
Mexico
8.9
4.0
5.1
5.3
4.2
3.4
4.1
3.8
4.0
2.8
3.0
3.0
4.1
2.6
3.0
Nicaragua
8.8
11.1
19.8
3.7
5.5
8.1
7.2
7.1
6.0
5.4
7.0
7.0
6.5
5.7
7.0
Panama
1.2
4.2
8.8
2.4
3.5
5.9
5.7
4.0
2.6
1.0
2.0
2.0
1.0
3.0
2.0
Paraguay
8.7
8.1
10.2
2.6
4.7
8.3
3.7
2.7
5.0
3.3
4.2
4.5
4.2
3.8
4.5
Peru
3.4
1.8
5.8
2.9
1.5
3.4
3.7
2.8
3.2
3.2
2.8
2.0
3.2
3.3
2.5
St. Kitts and Nevis
3.8
4.5
5.3
2.1
0.7
7.1
1.4
1.0
0.8
–0.8
–0.3
1.7
0.6
–2.2
1.7
St. Lucia
2.5
2.8
5.5
–0.2
3.3
2.8
4.2
1.5
3.5
0.6
2.7
1.5
3.7
0.5
3.7
St. Vincent and the Grenadines
1.5
7.0
10.1
0.4
0.8
3.2
2.6
0.8
0.2
–1.0
1.8
2.0
0.1
0.5
1.6
Suriname
20.5
6.6
14.9
–0.4
6.8
17.7
5.0
1.9
3.4
3.7
4.3
3.3
3.9
5.2
3.2
Trinidad and Tobago
4.4
7.9
12.0
7.6
10.5
5.1
9.3
5.2
7.0
8.1
6.8
5.4
8.5
7.8
5.9
Uruguay
9.8
8.1
7.9
7.1
6.7
8.1
8.1
8.6
8.9
8.4
8.1
6.4
8.3
9.0
7.9
Venezuela
23.8
18.7
30.4
27.1
28.2
26.1
21.1
40.6
62.2 159.1 204.1 162.5
68.5 190.0 210.0
Middle East, North Africa, 
Afghanistan, and Pakistan
5.6
10.3
11.8
7.1
6.5
9.2
9.8
9.1
6.7
6.2
5.4
4.1
6.5
5.7
5.2
Afghanistan
. . .
8.7
26.4
–6.8
2.2
11.8
6.4
7.4
4.7
–1.9
2.8
5.0
1.5
–1.2
1.9
Algeria
3.1
3.7
4.9
5.7
3.9
4.5
8.9
3.3
2.9
4.2
4.1
4.0
5.3
2.0
4.1
Bahrain
0.9
3.3
3.5
2.8
2.0
–0.4
2.8
3.3
2.7
2.0
2.1
2.5
2.5
1.6
2.6
Djibouti
2.0
5.0
12.0
1.7
4.0
5.1
3.7
2.4
2.9
3.0
3.5
3.0
2.8
3.0
3.0
Egypt
4.7
11.0
11.7
16.2
11.7
11.1
8.6
6.9
10.1
11.0
8.8
7.0
8.2
11.4
10.4
Iran
14.8
18.4
25.3
10.8
12.4
21.5
30.5
34.7
15.5
15.1
11.5
5.0
16.2
14.0
9.0
Iraq
. . .
30.8
2.7
–2.2
2.4
5.6
6.1
1.9
2.2
1.9
3.0
3.0
1.6
3.0
3.0
Jordan
2.6
4.7
14.0
–0.7
4.8
4.2
4.5
4.8
2.9
0.2
3.1
2.0
1.7
1.9
2.5
Kuwait
1.8
5.5
6.3
4.6
4.5
4.9
3.2
2.7
2.9
3.3
3.3
3.6
2.9
3.3
3.3
Lebanon
2.1
4.1
10.8
1.2
4.0
5.0
6.6
4.8
1.9
0.1
1.5
3.0
–0.7
1.0
2.0
Libya 
–1.0
6.2
10.4
2.4
2.5
15.9
6.1
2.6
2.8
8.0
9.2
1.8
3.7
11.7
7.2
Mauritania
6.2
7.3
7.5
2.1
6.3
5.7
4.9
4.1
3.5
3.6
4.2
5.0
4.7
3.6
4.2
Morocco
1.7
2.0
3.9
1.0
1.0
0.9
1.3
1.9
0.4
1.5
2.0
2.0
1.6
1.6
2.0
Oman
0.4
5.9
12.6
3.5
3.3
4.0
2.9
1.2
1.0
0.4
2.0
2.8
1.0
0.4
2.0
Pakistan
6.0
7.8
12.0
18.1
10.1
13.7
11.0
7.4
8.6
4.5
4.7
5.0
8.2
3.2
6.0
Qatar
4.0
13.6
15.2
–4.9
–2.4
1.9
1.9
3.1
3.0
1.6
2.3
2.3
2.9
1.6
2.3
Saudi Arabia
–0.2
5.0
6.1
4.1
3.8
3.7
2.9
3.5
2.7
2.1
2.3
2.9
2.4
2.1
2.3
Sudan7
14.6
14.8
14.3
11.3
13.0
18.1
35.5
36.5
36.9
19.8
12.7
5.2
25.7
15.5
10.0
Syria8
2.3
4.7
15.2
2.8
4.4
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
Tunisia
2.5
3.0
4.3
3.7
3.3
3.5
5.1
5.8
4.9
5.0
4.0
3.8
4.8
4.4
4.0
United Arab Emirates
3.8
11.1
12.3
1.6
0.9
0.9
0.7
1.1
2.3
3.7
3.0
3.4
3.0
3.3
3.0
Yemen
10.3
7.9
19.0
3.7
11.2
19.5
9.9
11.0
8.2
30.0
15.0
6.0
10.0
20.0
12.0
STATISTICAL APPENDIX
International Monetary Fund | October 2015 
179
Table A7. Emerging Market and Developing Economies: Consumer Prices1(continued)
(Annual percent change)
End of Period2
Average
Projections
Projections
1997–2006 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2020
2014
2015
2016
Sub-Saharan Africa
11.2
5.5
13.0
9.8
8.2
9.5
9.4
6.6
6.4
6.9
7.3
5.8
6.3
7.8
7.1
Angola
114.5
12.2
12.5
13.7
14.5
13.5
10.3
8.8
7.3
10.3
14.2
9.4
7.5
13.9
13.0
Benin
3.2
1.3
7.4
0.9
2.2
2.7
6.7
1.0
–1.1
0.5
2.3
2.8
–0.8
2.3
2.4
Botswana
8.3
7.1
12.6
8.1
6.9
8.5
7.5
5.8
3.9
4.0
4.4
4.4
3.7
4.3
4.4
Burkina Faso
2.4
–0.2
10.7
0.9
–0.6
2.8
3.8
0.5
–0.3
0.7
1.8
2.0
–0.1
1.6
1.8
Burundi
11.0
8.4
24.4
10.6
6.5
9.6
18.2
7.9
4.4
7.4
6.2
5.0
3.7
11.8
4.4
Cabo Verde
2.5
4.4
6.8
1.0
2.1
4.5
2.5
1.5
–0.2
1.0
2.5
2.5
–0.4
2.0
2.5
Cameroon
2.6
1.1
5.3
3.0
1.3
2.9
2.4
2.1
1.9
2.0
2.1
2.2
2.6
2.0
2.1
Central African Republic
1.9
0.9
9.3
3.5
1.5
1.2
5.9
6.6
11.6
5.7
4.9
3.0
8.4
9.4
2.5
Chad
2.6
–7.4
8.3
10.1
–2.1
1.9
7.7
0.2
1.7
4.3
3.1
3.0
3.7
3.2
3.0
Comoros
3.3
4.5
4.8
4.8
3.9
2.2
5.9
1.6
1.3
2.0
2.2
2.2
0.0
4.0
0.1
Democratic Republic of the Congo 
97.3
16.7
18.0
46.2
23.5
15.5
2.1
0.8
1.0
1.0
1.7
2.5
1.2
0.9
2.5
Republic of Congo
3.4
2.6
6.0
4.3
5.0
1.8
5.0
4.6
0.9
0.9
1.7
2.5
0.5
1.8
2.2
Côte d’Ivoire
3.3
1.9
6.3
1.0
1.4
4.9
1.3
2.6
0.4
1.6
1.5
2.0
0.9
2.0
1.8
Equatorial Guinea
5.4
2.8
4.7
5.7
5.3
4.8
3.4
3.2
4.3
3.5
2.9
2.8
4.3
3.5
2.9
Eritrea
14.7
9.3
19.9
33.0
12.7
13.3
12.3
12.3
12.3
12.3
12.3
12.3
12.3
12.3
12.3
Ethiopia
4.5
17.2
44.4
8.5
8.1
33.2
24.1
8.1
7.4
10.0
9.0
8.3
7.1
12.3
8.2
Gabon
0.8
–1.0
5.3
1.9
1.4
1.3
2.7
0.5
4.5
0.6
2.5
2.5
1.7
1.1
2.5
The Gambia
5.9
5.4
4.5
4.6
5.0
4.8
4.6
5.2
6.2
6.5
5.3
5.0
6.9
6.0
4.7
Ghana
19.3
10.7
16.5
13.1
6.7
7.7
7.1
11.7
15.5
15.3
10.1
7.4
17.0
12.0
8.0
Guinea
11.6
22.9
18.4
4.7
15.5
21.4
15.2
11.9
9.7
9.0
8.7
5.0
9.0
9.4
8.0
Guinea-Bissau
6.3
4.6
10.4
–1.6
1.1
5.1
2.1
0.8
–1.0
1.3
2.3
3.0
–0.1
2.0
2.5
Kenya
6.6
4.3
15.1
10.6
4.3
14.0
9.4
5.7
6.9
6.3
5.9
5.0
6.0
6.3
5.4
Lesotho
7.1
9.2
10.7
5.9
3.4
6.0
5.5
5.0
3.8
3.9
4.1
5.0
2.6
4.1
5.0
Liberia
. . .
11.4
17.5
7.4
7.3
8.5
6.8
7.6
9.9
7.9
8.2
6.4
7.7
8.0
8.5
Madagascar
9.4
10.3
9.3
9.0
9.2
9.5
5.7
5.8
6.1
7.6
7.4
5.2
6.0
8.1
7.2
Malawi
19.6
8.0
8.7
8.4
7.4
7.6
21.3
28.3
23.8
20.1
14.0
7.4
24.2
18.7
9.1
Mali
1.5
1.5
9.1
2.2
1.3
3.1
5.3
–0.6
0.9
2.4
3.6
2.6
1.2
3.1
2.6
Mauritius
5.9
8.8
9.7
2.5
2.9
6.5
3.9
3.5
3.2
2.0
3.0
3.0
0.2
3.0
3.0
Mozambique
9.5
8.2
10.3
3.3
12.7
10.4
2.1
4.2
2.3
4.0
5.6
5.6
1.1
5.5
5.6
Namibia
7.7
6.5
9.1
9.5
4.9
5.0
6.7
5.6
5.3
4.8
6.0
5.7
4.6
5.2
5.5
Niger
2.1
0.1
11.3
4.3
–2.8
2.9
0.5
2.3
–0.9
1.3
2.1
1.8
–0.6
2.6
1.5
Nigeria
11.8
5.4
11.6
12.5
13.7
10.8
12.2
8.5
8.1
9.1
9.7
7.0
7.9
10.5
9.5
Rwanda
6.2
9.1
15.4
10.3
2.3
5.7
6.3
4.2
1.8
2.1
4.2
5.0
2.1
3.5
5.0
São Tomé and Príncipe
20.4
18.6
32.0
17.0
13.3
14.3
10.6
8.1
7.0
5.8
4.6
3.0
6.4
5.2
4.0
Senegal
1.4
5.9
6.3
–2.2
1.2
3.4
1.4
0.7
–1.1
0.6
2.1
1.3
–0.8
3.0
1.4
Seychelles
2.9
5.3
37.0
31.8
–2.4
2.6
7.1
4.3
1.4
4.3
2.9
3.0
0.5
4.9
3.8
Sierra Leone
11.9
11.6
14.8
9.2
17.8
18.5
13.8
9.8
8.3
10.2
12.7
7.5
9.8
12.0
10.2
South Africa
5.6
7.1
11.5
7.1
4.3
5.0
5.7
5.8
6.1
4.8
5.9
5.5
5.8
5.5
5.7
South Sudan
. . .
. . .
. . .
. . .
. . .
. . .
45.1
0.0
1.7
41.1
14.4
0.5
9.9
25.0
35.0
Swaziland
6.9
8.1
12.7
7.4
4.5
6.1
8.9
5.6
5.7
5.2
5.7
5.2
6.2
6.1
5.4
Tanzania
7.2
7.0
10.3
12.1
7.2
12.7
16.0
7.9
6.1
5.6
5.9
5.1
4.8
6.6
5.4
Togo
2.4
0.9
8.7
3.7
1.4
3.6
2.6
1.8
0.2
1.9
2.1
2.5
1.8
2.2
2.3
Uganda
4.7
6.1
12.0
13.1
4.0
18.7
14.0
4.8
4.6
5.7
6.5
5.0
4.9
6.4
6.6
Zambia
21.1
10.7
12.4
13.4
8.5
8.7
6.6
7.0
7.8
7.3
7.5
5.0
7.9
8.0
7.0
Zimbabwe9
–7.2
–72.7 157.0
6.2
3.0
3.5
3.7
1.6
–0.2
–1.6
0.0
2.2
–0.8
–0.7
0.5
1Movements in consumer prices are shown as annual averages.
2Monthly year-over-year changes and, for several countries, on a quarterly basis.
3For many countries, inflation for the earlier years is measured on the basis of a retail price index. Consumer price index (CPI) inflation data with broader and more up-to-date coverage are 
typically used for more recent years.
4Georgia, Turkmenistan, and Ukraine, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarity in economic 
structure.
5Starting in 2014 data exclude Crimea and Sevastopol.
6Consumer price data from December 2013 onward reflect the new national CPI (IPCNu), which differs substantively from the preceding CPI (the CPI for the Greater Buenos Aires Area, CPI-
GBA). Because of the differences in geographical coverage, weights, sampling, and methodology, the IPCNu data cannot be directly compared to the earlier CPI-GBA data. Because of this 
structural break in the data, the average CPI inflation for 2014 is not reported in the October 2015 World Economic Outlook. Following a declaration of censure by the IMF on February 1, 2013, 
the public release of a new national CPI by the end of March was one of the specified actions in the IMF Executive Board’s December 2013 decision calling on Argentina to address the quality of 
its official CPI data. On June 3, 2015, the Executive Board recognized the ongoing discussions with the Argentine authorities and their material progress in remedying the inaccurate provision of 
data since 2013, but found that some specified actions called for by the end of February 2015 had not yet been completely implemented. The Executive Board will review this issue again by July 
15, 2016, and in line with the procedures set forth in the IMF legal framework.
7Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.
8Data for Syria are excluded for 2011 onward because of the ongoing conflict and related lack of data.
9The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in U.S. dollars. IMF staff estimates of U.S. dollar values 
may differ from authorities’ estimates. 
WORLD ECONOMIC OUTLOOK: ADJUSTING TO LOWER COMMODITY PRICES
180 
International Monetary Fund | October 2015
Table A8. Major Advanced Economies: General Government Fiscal Balances and Debt1
(Percent of GDP unless noted otherwise)
Average
Projections
1997–2006
2009
2010
2011
2012
2013
2014
2015
2016
2020
Major Advanced Economies
Net Lending/Borrowing
–3.4
–10.0
–8.8
–7.5
–6.4
–4.5
–4.0
–3.5
–3.1
–2.6
Output Gap2
0.7
–4.6
–2.9
–2.4
–2.2
–2.3
–2.0
–1.5
–1.0
0.0
Structural Balance2
–3.8
–6.4
–7.4
–6.4
–5.1
–3.7
–3.3
–2.8
–2.5
–2.6
United States
Net Lending/Borrowing3
–3.1
–13.1
–10.9
–9.6
–7.9
–4.7
–4.1
–3.8
–3.6
–4.2
Output Gap2
1.6
–5.0
–3.7
–3.4
–2.7
–2.9
–2.2
–1.6
–1.0
0.0
Structural Balance2
–3.5
–7.6
–9.4
–8.1
–6.2
–4.1
–3.6
–3.1
–3.0
–4.1
Net Debt 
41.3
62.0
69.5
76.0
79.3
80.8
80.1
79.9
80.7
81.2
Gross Debt 
60.2
86.0
94.7
99.0
102.5
104.8
104.8
104.9
106.0
106.2
Euro Area4
Net Lending/Borrowing
–2.2
–6.2
–6.1
–4.1
–3.6
–2.9
–2.4
–2.0
–1.7
–0.2
Output Gap2
–0.3
–3.0
–1.6
–0.7
–2.0
–2.7
–2.6
–2.1
–1.6
–0.1
Structural Balance2
–2.1
–4.5
–4.5
–3.7
–2.0
–1.2
–1.0
–0.9
–0.8
–0.2
Net Debt
48.7
52.5
56.1
58.2
66.3
69.0
70.0
70.1
69.7
64.1
Gross Debt
68.9
78.6
83.9
86.4
91.0
93.1
94.2
93.7
92.8
85.2
Germany 
Net Lending/Borrowing
–2.5
–3.0
–4.1
–0.9
0.1
0.1
0.3
0.5
0.3
1.0
Output Gap2
–0.6
–4.0
–1.3
1.0
0.4
–0.4
–0.2
–0.1
0.2
0.4
Structural Balance2
–2.3
–0.9
–2.2
–1.3
0.0
0.4
0.6
0.5
0.2
0.8
Net Debt
44.4
54.5
56.2
54.6
54.0
53.1
51.4
48.4
46.4
38.1
Gross Debt
61.6
72.7
80.6
77.9
79.3
77.0
74.6
70.7
68.2
57.9
France
Net Lending/Borrowing
–2.6
–7.2
–6.8
–5.1
–4.8
–4.1
–4.0
–3.8
–3.4
–0.7
Output Gap2
0.0
–2.5
–1.6
–0.6
–1.4
–1.7
–2.5
–2.4
–2.1
0.0
Structural Balance2
–2.7
–5.7
–5.8
–4.7
–3.8
–2.9
–2.4
–2.1
–2.0
–0.7
Net Debt
53.1
70.1
73.7
76.4
81.7
84.6
87.9
89.4
90.3
85.4
Gross Debt
61.9
78.8
81.5
85.0
89.4
92.3
95.6
97.1
98.0
93.1
Italy
Net Lending/Borrowing
–3.0
–5.3
–4.2
–3.5
–3.0
–2.9
–3.0
–2.7
–2.0
–0.2
Output Gap2
–0.7
–3.2
–1.4
–0.6
–3.0
–4.3
–4.6
–3.9
–3.1
–0.7
Structural Balance2,5
–3.4
–4.2
–3.7
–3.8
–1.5
–0.5
–0.8
–0.5
–0.3
0.2
Net Debt
90.1
94.2
96.3
98.4
102.9
109.6
112.6
113.5
112.8
104.8
Gross Debt
105.0
112.5
115.3
116.4
123.1
128.5
132.1
133.1
132.3
123.0
Japan
Net Lending/Borrowing
–6.0
–10.4
–9.3
–9.8
–8.8
–8.5
–7.3
–5.9
–4.5
–4.1
Output Gap2
–1.0
–7.1
–3.1
–3.7
–2.4
–1.2
–1.7
–1.5
–0.9
0.0
Structural Balance2
–5.7
–7.4
–7.8
–8.4
–7.8
–8.2
–6.8
–5.5
–4.3
–4.1
Net Debt
65.3
106.2
113.1
127.2
129.0
122.9
126.1
126.0
128.1
132.1
Gross Debt6
155.0
210.2
215.8
229.7
236.6
242.6
246.2
245.9
247.8
251.7
United Kingdom
Net Lending/Borrowing
–1.5
–10.8
–9.7
–7.6
–7.8
–5.7
–5.7
–4.2
–2.8
0.1
Output Gap2
1.5
–2.2
–1.9
–2.5
–3.0
–2.7
–1.4
–0.7
–0.4
0.0
Structural Balance2
–2.5
–9.7
–8.0
–5.8
–5.6
–3.6
–4.3
–3.6
–2.5
0.1
Net Debt
36.2
58.8
69.1
73.4
77.1
78.7
80.9
80.3
79.5
69.3
Gross Debt
40.6
65.8
76.4
81.8
85.8
87.3
89.4
88.9
88.0
77.8
Canada
Net Lending/Borrowing
1.1
–4.5
–4.9
–3.7
–3.1
–2.7
–1.6
–1.7
–1.3
–0.3
Output Gap2
0.9
–3.5
–2.1
–1.0
–1.0
–0.9
–0.4
–1.3
–1.3
0.0
Structural Balance2
0.6
–2.5
–3.7
–3.2
–2.5
–2.2
–1.6
–1.0
–0.7
–0.3
Net Debt
46.0
29.9
32.9
34.6
36.4
37.1
36.4
37.8
38.0
34.1
Gross Debt
81.3
83.0
84.6
85.3
87.9
87.7
87.9
90.4
89.4
79.9
Note: The methodology and specific assumptions for each country are discussed in Box A1. The country group composites for fiscal data are calculated as the sum of the U.S. dollar 
values for the relevant individual countries. 
1Debt data refer to the end of the year and are not always comparable across countries. Gross and net debt levels reported by national statistical agencies for countries that have 
adoptedthe System of National Accounts (SNA) 2008 (Australia, Canada, Hong Kong SAR, United States) are adjusted to exclude unfunded pension liabilities of government employees’ 
defined-benefit pension plans. Fiscal data for the aggregated Major Advanced Economies and the United States start in 2001, and the average for the aggregate and the United States is 
therefore for the period 2001–07.
2Percent of potential GDP.
3Figures reported by the national statistical agency are adjusted to exclude items related to the accrual-basis accounting of government employees defined-benefit pension plans.
4Data for Lithuania are included in the euro area aggregates but were excluded in the April 2015 World Economic Outlook. 
5Excludes one-time measures based on the authorities’ data and, in the absence of the latter, receipts from the sale of assets.
6Includes equity shares; nonconsolidated basis.
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