Turning to fiscal policy, the 1999 general government deficit ratio was 1.6%, well below the 3% reference value. By contrast, the debt ratio was 104.4%, ie far above the 60% reference value.
Looking back over the years from 1990 to 1999, the deficit has been reduced considerably and in 2000 the deficit ratio is forecast to decrease further to 1.3% of GDP, while the debt ratio is projected to decline to 103.7%.