By
Department of Research and Chief Economist (VPS/RES/RES)
Primary balance, constant prices, in millions of 1998 domestic currency, deflated by CPI. The primary balance is defined as revenues minus primary expenditures. Revenues are defined as revenues and grants. Primary expenditures are defined as total expenditures minus interest payments and exclude net lending. It refers to the budgetary central government. The fiscal year starts on July 1st. It refers to calendar year.
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