natgillin/translations-raw huggingface dataset:
Ôï 1998 ôï äçìïóéïíïìéêü ðëåüíáóìá ðñïâëÝðåôáé íá áõîçèåß óå 1,1% ôïõ ÁÅÐ êáé ï ëüãïò ôïõ ÷ ñÝïõò íá ìåéùèåß óå 59,5% , äçë . íá åßíáé ìüëéò ÷ áìçëüôåñïò áðü ôçí ôéìÞ áíáöïñÜò .
In 1998 the fiscal surplus is forecast to increase to 1.1% of GDP , while the debt ratio is projected to decline to 59.5% , i.e. just below the reference value .
Ôï 1996 ï ëüãïò ôïõ åëëåßììáôïò äåí õðåñÝâç ôï ëüãï ôùí äáðáíþí äçìüóéùí åðåíäýóåùí ðñïò ôï ÁÅÐ .
In 1996 the deficit ratio did not exceed the ratio of public investment expenditure to GDP .
Áðü ôçí åîÝôáóç ôùí åôþí 1990-1997 ðñïêýðôåé üôé ï ëüãïò ÷ ñÝïõò / ÁÅÐ óôçí Éñëáíäßá ìåéþèçêå êáôÜ 29,7 åêáôïóôéáßåò ìïíÜäåò .
Looking back over the years 1990 to 1997 , the Irish debt-to-GDP ratio declined by 29.7 percentage points .
Áñ ÷ éêÜ ï ëüãïò äéáêõìÜíèçêå ãýñù óôï åðßðåäï ôïõ 1990 ( 96,0% ) , áëëÜ áðü ôï 1994 Ýãéíå öáíåñÞ ìéá Ýíôïíç êáèïäéêÞ ôÜóç . Ï ëüãïò ôïõ ÷ ñÝïõò ìåéùíüôáí óõíå ÷ þò êáé áðü 96,3% ôï 1993 Ýöèáóå óôï 66,3% ôï 1997 ( âë .
Initially the ratio fluctuated around its 1990 level of 96.0% , but since 1994 a strong downward trend has been apparent , with a continuous reduction in the debt from 96.3% in 1993 to 66.3% in 1997 ( see Chart 2a ) , i.e. a decline of 30.0 percentage points over four years .
ìåéþèçêå êáôÜ 30,0 åêáôïóôéáßåò ìïíÜäåò óå äéÜñêåéá ôåóóÜñùí åôþí . ¼ ðùò öáßíåôáé ëåðôïìåñÝóôåñá óôï ÄéÜãñáììá 2â , ïé êýñéïé ðáñÜãïíôåò ðïõ åðÝäñáóáí óôç ìåßùóç áõôÞ õðÞñîáí ôá ìåãÜëá ðñùôïãåíÞ ðëåïíÜóìáôá , óå óõíäõáóìü ìå ôï éäéáßôåñá åõíïúêü ðåñéâÜëëïí áðü ðëåõñÜò
As is shown in greater detail in Chart 2b , the main forces underlying this reduction were sizable primary surpluses , combined with a very favourable growth and interest rate environment since 1994 .
Ìüíï ôï 1993 áõîÞèçêå ï ëüãïò ôïõ ÷ ñÝïõò , ëüãù óçìáíôéêþí  ðñïóáñìïãþí ôùí ìåôáâëçôþí ñïÞò êáé áðïèÝìáôïò , ïé ïðïßåò ïöåßëïíôáí óôçí åðßðôùóç ôçò õðïôßìçóçò ôçò éñëáíäéêÞò ëßñáò åðß ôçò áðïôßìçóçò ôïõ äçìüóéïõ ÷ ñÝïõò óå óõíÜëëáãìá .
Only in 1993 did significant stock-flow adjustments increase the debt ratio , owing to a valuation effect on foreign currency debt of the depreciation of the Irish pound .
Ç ìÝ ÷ ñé óÞìåñá åîÝëéîç ôïõ ÷ ñÝïõò óôç äåêáåôßá ôïõ 1990 ìðïñåß íá èåùñçèåß åíäåéêôéêÞ ôçò ìåéùôéêÞò åðßäñáóçò åðß ôïõ ÷ ñÝïõò , åíþ , áðü ôçí Üëëç ðëåõñÜ , ç åí ëüãù åðßäñáóç åíéó ÷ ýèçêå áðü ôçí Ýíôïíç ïéêïíïìéêÞ áíÜðôõîç .
The patterns observed thus far during the 1990s may be seen as indicative of the debt-reducing effect of continuous primary surpluses , while , on the other hand , these effects were reinforced by strong growth .
Óôï ðëáßóéï áõôü , óçìåéþíåôáé üôé ôï ôìÞìá ôïõ ÷ ñÝïõò ìå ìéêñÞ åíáðïìÝíïõóá äéÜñêåéá õðÞñîå ìéêñü óôç äéÜñêåéá ôçò äåêáåôßáò ôïõ 1990 , åíþ ç ìÝóç äéÜñêåéá ìåéþèçêå ( âë . Ðßíáêá 5 ) .
In this context , it may be noted that the share of debt with a short-term residual maturity has been low over the 1990s , while the average maturity has decreased ( see Table 5 ) .
Ùò ðñïò ôï 1997 , ëáìâáíïìÝíïõ õðüøç ôïõ óçìåñéíïý åðéðÝäïõ ôïõ ëüãïõ ôïõ ÷ ñÝïõò , ôá äçìïóéïíïìéêÜ áðïôåëÝóìáôá ó ÷ åôéêÜ äåí ðáñïõóéÜæïõí åõáéóèçóßá óôéò ìåôáâïëÝò ôùí åðéôïêßùí .
With regard to 1997 , taking into account the current level of the debt ratio , fiscal balances are relatively insensitive to changes in interest rates .
Óôç äéÜñêåéá ôçò äåêáåôßáò ôïõ 1990 ï ëüãïò åëëåßììáôïò / ÁÅÐ áñ ÷ éêÜ ðáñÝìåéíå óôáèåñüò , åíþ óôç óõíÝ ÷ åéá óçìåßùóå óõíå ÷ Þ âåëôßùóç êáé ðáñÝìåéíå óôáèåñÜ ÷ áìçëüôåñïò ôçò ôéìÞò áíáöïñÜò 3 %.
During the 1990s a pattern of initially stable and subsequently improving outturns can be observed in the deficit-to-GDP ratio , whereby the ratio remained consistently below the 3 % reference value .
Îåêéíþíôáò áðü 2,3% ôï 1990 , ï ëüãïò ôïõ åëëåßììáôïò ðáñÝìåéíå óôáèåñüò óôï åðßðåäï áõôü åðß áñêåôÜ Ýôç .
Starting from a ratio of 2.3% in 1990 , the deficit remained broadly at that level for several years .
Áêïëïýèùò óçìåéþèçêå Ýíôïíç âåëôßùóç , ðïõ Üñ ÷ éóå ôï 1996 êáé ïäÞãçóå óå ìéêñü Ýëëåéììá åêåßíï ôï Ýôïò êáé óå ðëåüíáóìá 0,9% ôï 1997 ( âë . ÄéÜãñáììá 3á ) .
Thereafter , there was a sharp improvement , beginning in 1996 , leading to a small deficit in that year and to a surplus of 0.9% in 1997 ( see Chart 3a ) .
¼ ðùò öáßíåôáé ëåðôïìåñÝóôåñá óôï ÄéÜãñáììá 3â , ôï ïðïßï åðéêåíôñþíåôáé óôéò ìåôáâïëÝò ôùí åëëåéììÜôùí , ïé êõêëéêïß ðáñÜãïíôåò äõó ÷ Ýñáíáí ôç óôáèåñïðïßçóç ôïõ ëüãïõ ôïõ åëëåßììáôïò óôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 êáé Ýðáéîáí óçìáíôéêü ñüëï óôïí ðåñéïñéóìü ôïõ ëüãïõ ôïõ åëëåßììáôïò êáôüðéí .
As is shown in greater detail in Chart 3b , which focuses on changes in deficits , cyclical factors complicated the stabilisation of the deficit ratio in the early 1990s and played an important role in reducing the deficit ratio later on .
Óôá ôåëåõôáßá äýï Ýôç  ìç êõêëéêïß  ðáñÜãïíôåò óõíÝâáëáí 151 åðßóçò óôç ìåßùóç ôïõ åëëåßììáôïò .
In the last two years noncyclical factors also contributed to reducing the deficit .
Ùóôüóï , ôá äéáèÝóéìá óôïé ÷ åßá õðïäçëþíïõí üôé óôïí ðåñéïñéóìü ôùí åëëåéììÜôùí ôï 1996 Þ ôï 1997 äåí óõíÝâáëáí ìÝôñá ìå ðñïóùñéíÞ åðßäñáóç .
However , evidence available suggests that measures with a temporary effect did not play a role in reducing deficits in 1996 or 1997 .
Ó ÷ åôéêÜ ìå ôéò ôÜóåéò Üëëùí äçìïóéïíïìéêþí äåéêôþí , áðü ôï ÄéÜãñáììá 4 ðñïêýðôåé üôé ï ëüãïò ôùí óõíïëéêþí äáðáíþí ôïõ åõñýôåñïõ êõâåñíçôéêïý ôïìÝá õðÞñîå ðåñßðïõ óôáèåñüò ìåôáîý 1990 êáé 1994 .
Moving on to examine trends in other fiscal indicators , it can be seen from Chart 4 that the general government total expenditure ratio was broadly stable between 1990 and 1994 .
Ç áýîçóç ôùí ìåôáâéâáóôéêþí ðëçñùìþí êáé ôçò äçìüóéáò êáôáíÜëùóçò áíôéóôáèìßóôçêå áðü ôç ìåßùóç ôùí äáðáíþí ãéá ôüêïõò ( âë . Ðßíáêá 6 ) .
Increased transfer payments and public consumption were compensated for by reduced interest payments ( see Table 6 ) .
ÌåôÜ ôï 1994 , ùóôüóï , ï ëüãïò äáðÜíçò / ÁÅÐ ìåéþèçêå êáé ìÝ ÷ ñé ôï 1997 åß ÷ å õðï ÷ ùñÞóåé êáôÜ 4,5 åêáôïóôéáßåò ìïíÜäåò , áíôáíáêëþíôáò ðåñéêïðÝò óå üëåò ôéò êýñéåò êáôçãïñßåò äáðáíþí óå ó ÷ Ýóç ìå ôï ÁÅÐ .
After 1994 , however , the expenditure-to-GDP ratio declined and , by 1997 , had dropped by 4‰ percentage points , reflecting reductions across all major categories of spending relative to GDP .
Óå ìÝóï üñï , ï ëüãïò ôùí äáðáíþí ôï 1997 Þôáí óçìáíôéêÜ ÷ áìçëüôåñïò áðü ü , ôé óôçí áñ ÷ Þ ôçò äåêáåôßáò ôïõ 1990 , éäéáßôåñá ëüãù ôçò Ýíôïíçò ìåßùóçò ôùí äáðáíþí ãéá ôüêïõò , åîáéôßáò ôùí ÷ áìçëüôåñùí åðéôïêßùí , êáé ôçò ìåßùóçò ôïõ ëüãïõ ôïõ ÷ ñÝïõò .
On balance , the expenditure ratio in 1997 was considerably lower than at the beginning of the 1990s , particularly on account of the sharp reduction in interest payments as a consequence of lower interest rates and the reduction in the debt ratio .
Ôá äçìüóéá Ýóïäá óå ó ÷ Ýóç ìå ôï ÁÅÐ ðåñéïñßóôçêáí åðßóçò óôç äéÜñêåéá ôçò äåêáåôßáò ôïõ 1990 , áëëÜ áõôü ïöåéëüôáí êáôÜ ðïëý óôçí ðôþóç êáôÜ 2,5 åêáôïóôéáßåò ìïíÜäåò ôï 1995 , åíþ áêïëïýèùò ï ëüãïò áõôüò åß ÷ å åëáöñþò áíïäéêÞ ôÜóç .
Government revenue in relation to GDP also fell during the 1990s , but this was largely the result of a single drop in 1995 ( of 2.5 percentage points ) and thereafter the ratio tended to increase slightly .
Óýìöùíá ìå ôç ìåóïðñüèåóìç óôñáôçãéêÞ äçìïóéïíïìéêÞò ðïëéôéêÞò ôçò Éñëáíäßáò , üðùò ðáñïõóéÜæåôáé óôï Ðñüãñáììá Óýãêëéóçò 1997-99 , ôï ïðïßï áíáèåùñÞèçêå ôï ÄåêÝìâñéï 1997 , ôï 1998 áíáìÝíåôáé êÜðùò ìéêñüôåñï ðëåüíáóìá ôïõ ðñïûðïëïãéóìïý êáé ÷ áìçëüôåñïò ëüãïò ôïõ ÷ ñÝïõò .
According to the Irish medium-term fiscal policy strategy , as stated in the Convergence Programme for 1997-99 updated in December 1997 , a somewhat declining budget surplus and a declining debt ratio are expected in 1998 .
Ï ðñïûðïëïãéóìüò ôïõ 1998 ðñïâëÝðåé üôé èá äéáôçñçèåß ôï 152 ðëåüíáóìá ôïõ åõñýôåñïõ êõâåñíçôéêïý ôïìÝá êáé ï ëüãïò ôïõ ÷ ñÝïõò èá ðñïóåããßóåé ôçí ôéìÞ áíáöïñÜò , åíþ óýìöùíá ìå ôéò ðñïâëÝøåéò ôçò ÅðéôñïðÞò ïé åîåëßîåéò èá åßíáé åõíïúêüôåñåò .
The budget for 1998 foresees the maintenance of a surplus in the general government financial balance , and a debt ratio which nearly attains the reference value , while Commission forecasts indicate more favourable developments .
Ï ðñïûðïëïãéóìüò ôïõ 1998 ðåñéëáìâÜíåé ìåßùóç ôùí óõíôåëåóôþí öïñïëïãßáò åéóïäÞìáôïò êáé áõîçìÝíåò äáðÜíåò , ëüãù üìùò ôïõ õøçëïý ñõèìïý ïéêïíïìéêÞò áíÜðôõîçò , ôüóï ï ëüãïò ôùí åóüäùí üóï êáé ï ëüãïò ôùí äáðáíþí áíáìÝíåôáé íá ìåéùèïýí .
The 1998 budget contains reductions in income tax rates and increased spending , but owing to the high economic growth rate both revenue and expenditure ratios are expected to decline .
Ãéá ôï 1999 ôï Ðñüãñáììá Óýãêëéóçò ðñïâëÝðåé áýîçóç ôïõ ðëåïíÜóìáôïò ôïõ ðñïûðïëïãéóìïý óôï 0,7% ôïõ ÁÅÐ êáé ëüãï ôïõ ÷ ñÝïõò 56 %.
For 1999 the Convergence Programme foresees an increase in the budget surplus to 0.7% of GDP and a debt ratio of 56 %.
ÅÜí ôá äçìïóéïíïìéêÜ áðïôåëÝóìáôá äéáìïñöùèïýí üðùò ðñïâëÝðåôáé óôï Ðñüãñáììá Óýãêëéóçò 1999-2000 Þ åßíáé åõíïúêüôåñá , ç Éñëáíäßá èá ðñÝðåé íá åßíáé óå èÝóç íá óõììïñöùèåß ìå ôï ìåóïðñüèåóìï óôü ÷ ï ôïõ Óõìöþíïõ Óôáèåñüôçôáò êáé ÁíÜðôõîçò , ôï ïðïßï èá éó ÷ ýóåé áðü ôï 1999 . ÂÜóåé ôïõ óôü ÷ ïõ áõôïý , ï ðñïûðïëïãéóìüò ðñÝðåé íá åßíáé ó ÷ åäüí éóïóêåëéóìÝíïò Þ íá ðáñïõóéÜæåé ðëåüíáóìá .
If fiscal balances turn out as projected in the Convergence Programme for 1999-2000 , or are more favourable , Ireland should comply with the medium-term objective of the Stability and Growth Pact , effective from 1999 onwards , of having a budgetary position that is close to balance or in surplus .
Ó ÷ åôéêÜ ìå ôç äõíçôéêÞ ìåëëïíôéêÞ ðïñåßá ôïõ ëüãïõ ôïõ ÷ ñÝïõò , ç ´ Åêèåóç ôïõ ÅÍÉ äåí åîåôÜæåé áõôü ôï æÞôçìá ëåðôïìåñþò ãéá ôéò ÷ þñåò ðïõ ðñïâëÝðåôáé íá Ý ÷ ïõí ëüãï ÷ ñÝïõò êÜôù áðü 60 % ôïõ ÁÅÐ ôï 1998 .
With regard to the potential future course of the debt ratio , the EMI s Report does not consider this issue in detail for those countries forecast to have a debt ratio of below 60 % of GDP in 1998 .
Ïé ðñïâëåðüìåíåò åîåëßîåéò õðïãñáììßæïõí ôá ïöÝëç ãéá ôçí ôá ÷ åßá ìåßùóç ôïõ ëüãïõ ôïõ ÷ ñÝïõò , ôá ïðïßá ðñïêýðôïõí áðü ôï ðëåüíáóìá ðïõ åðéôåý ÷ èçêå ôï 1997 êáé ðïõ ðñïâëÝðåôáé íá áõîçèåß ôï 1998 .
Projected developments underline the benefits of the surplus position achieved in 1997 , and forecast to increase in 1998 , for rapidly reducing the debt ratio .
Ðßíáêá 7 ) , äåýôåñïí , ôï áóöáëéóôéêü óýóôçìá âáóßæåôáé óôéò éäéùôéêÝò óõíôÜîåéò óôá ðëáßóéá êåöáëáéïðïéçôéêïý óõóôÞìáôïò , êáé ôñßôïí , ï ñüëïò ôùí óõíôÜîåùí êïéíùíéêÞò áóöÜëéóçò ðïõ ÷ ïñçãïýíôáé âÜóåé äéáíåìçôéêïý óõóôÞìáôïò åßíáé óõãêñéôéêÜ ðåñéïñéóìÝíïò , ùóôüóï ïé ðñïêëÞóåéò ðáñáìÝíïõí .
As a small open economy Ireland may need to have sufficient room for manoeuvre to react to country-specific circumstances , and it needs to reduce its vulnerability to unexpected shocks which could potentially reverse debt trends .
Ðßíáêá 8á ) . Ïé ìÝãéóôåò áðïêëßóåéò Üíù êáé êÜôù áðü ôéò êåíôñéêÝò éóïôéìßåò , ìå âÜóç ôïõò êéíçôïýò ìÝóïõò 10 åñãÜóéìùí çìåñþí , Þôáí 12,5% êáé - 4,8% , áíôßóôïé ÷ á ( âë .
Focusing on the reference period from March 1996 to February 1998 , the currency , benefiting from sizable interest rate differentials vis - - vis most partner currencies , has normally traded significantly above its central rates and above a range close to its central rates vis - - vis partner currencies ( see Chart 5 and Table 8a ) .
Ðßíáêá 8á ) . Óôï ôÝëïò ôçò ðåñéüäïõ áíáöïñÜò , ç éñëáíäéêÞ ëßñá äéáìïñöþèçêå êáôÜ ðïóïóôü åëáöñþò Üíù ôïõ 3 % õøçëüôåñá áðü ôéò êåíôñéêÝò ôçò éóïôéìßåò Ýíáíôé ôùí Üëëùí íïìéóìÜôùí ôïõ ÌÓÉ .
The maximum upward and downward deviations from central rates , on the basis of 10 business day moving averages , were 12.5% and - 4.8% respectively ( see Table 8a ) ; at the end of the reference period the Irish pound stood just over 3 % above its central rates vis - - vis other ERM currencies .
ÐáñÜëëçëá ìå ôçí åíéó ÷ õìÝíç èÝóç ôçò éñëáíäéêÞò ëßñáò , ï âáèìüò ìåôáâëçôüôçôáò ôçò éóïôéìßáò ôçò Ýíáíôé ôïõ ãåñìáíéêïý ìÜñêïõ áõîÞèçêå ìÝ ÷ ñé ôá ìÝóá ôïõ 1997 ( âë . Ðßíáêá 8â ) êáé ïé äéáöïñÝò ôùí âñá ÷ õðñüèåóìùí åðéôïêßùí Ýíáíôé ôùí ÷ ùñþí ôçò ÅÅ ìå ôá ÷ áìçëüôåñá âñá ÷ õðñüèåóìá åðéôüêéá äéåõñýíèçêáí óôçí ßäéá ðåñßïäï .
In parallel with the strength of the Irish pound , the degree of exchange rate volatility vis - - vis the Deutsche Mark increased until mid-1997 ( see Table 8b ) and short-term interest rate differentials against those EU countries with the lowest short-term interest rates widened over the same period .
10 Áðü ðéï ìáêñïðñüèåóìç óêïðéÜ , äåßêôåò ôçò ðñáãìáôéêÞò óôáèìéóìÝíçò óõíáëëáãìáôéêÞò éóïôéìßáò ôçò éñëáíäéêÞò ëßñáò Ýíáíôé ôùí íïìéóìÜôùí ôùí ÊñáôþíÌåëþí ôïõ ÌÓÉ , üðùò áðåéêïíßæïíôáé óôïí Ðßíáêá 9 , õðïäçëþíïõí üôé ôá óçìåñéíÜ åðßðåäá åßíáé ðáñáðëÞóéá ìå ôéò ôéìÝò ðïõ Ý ÷ ïõí êáôÜ êáéñïýò óçìåéùèåß .
10 In a longer-term context , measures of the real effective exchange rate of the Irish pound vis - - vis the currencies of ERM participating Member States depicted in Table 9 suggest that current levels are close to historical values .
Ùò ðñïò ôéò Üëëåò åîùôåñéêÝò åîåëßîåéò , ç Éñëáíäßá äéáôÞñçóå ìåãÜëá ðëåïíÜóìáôá óôï éóïæýãéï ôñå ÷ ïõóþí óõíáëëáãþí ôá ôåëåõôáßá Ýôç ( âë . Ðßíáêá 10 ) .
As regards other external developments , Ireland has maintained large current account surpluses in recent years ( see Table 10 ) .
Õðåíèõìßæåôáé åðßóçò üôé ç Éñëáíäßá äéáèÝôåé ìéá ìéêñÞ áíïéêôÞ ïéêïíïìßá ôçò ïðïßáò , óýìöùíá ìå ôá ðéï ðñüóöáôá äéáèÝóéìá óôïé ÷ åßá , ï ëüãïò åîùôåñéêïý åìðïñßïõ / ÁÅÐ åßíáé 84 % ãéá ôéò åîáãùãÝò êáé 63 % ãéá ôéò åéóáãùãÝò êáé ôï ðïóïóôü Ç åîÝëéîç ôçò óõíáëëáãìáôéêÞò éóïôéìßáò Ç ëßñá Éñëáíäßáò óõììåôÝ ÷ åé óôï ÌÓÉ áðü ôçí Ýíáñîç ëåéôïõñãßáò ôïõ óôéò 13 Ìáñôßïõ 1979 , äçë .
It may also be recalled that Ireland is a small open economy with , according to the most recent data available , a ratio of foreign trade to GDP of 84 % for exports and 63 % for imports , and a share of intra-EU trade of 66 % for exports and 54 % for imports .
Åéäéêüôåñá êáôÜ ôçí ðåñßïäï áíáöïñÜò ( ÌÜñôéïò 1996-ÖåâñïõÜñéïò 1998 ) , ôï íüìéóìá ôçò ÷ þñáò , åðùöåëïýìåíï áðü ôéò óçìáíôéêÝò äéáöïñÝò åðéôïêßùí Ýíáíôé ôùí ðåñéóóüôåñùí íïìéóìÜôùí ôïõ ìç ÷ áíéóìïý , êáôÜ êáíüíá êéíÞèçêå óå åðßðåäá óçìáíôéêÜ õøçëüôåñá áðü ôéò êåíôñéêÝò ôïõ éóïôéìßåò êáé ðÜíù áðü ìéá óôåíÞ æþíç êïíôÜ óôéò êåíôñéêÝò ôïõ éóïôéìßåò Ýíáíôé ôùí Üëëùí íïìéóìÜôùí ôïõ ÌÓÉ ( âë .
Unit labour costs declined , and low rates of inflation were also apparent in terms of other relevant price indices .
Áðü ôéò 16 Ìáñôßïõ 1998 , äçë . ìåôÜ ôçí ðåñßïäï áíáöïñÜò ôçò ¸ êèåóçò , ïé äéìåñåßò êåíôñéêÝò éóïôéìßåò ôçò éñëáíäéêÞò ëßñáò Ýíáíôé Üëëùí íïìéóìÜôùí ôïõ ÌÓÉ áíáôéìÞèçêáí êáôÜ 3 %.
Looking ahead , there are some signs of immediate upward pressure on inflation , which may rise towards 3 % over the next two years .
åíäïêïéíïôéêïý åìðïñßïõ åßíáé 66 % ãéá ôéò åîáãùãÝò êáé 54 % ãéá ôéò åéóáãùãÝò . Ç åîÝëéîç ôùí ìáêñïðñüèåóìùí åðéôïêßùí Óôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò ( ÖåâñïõÜñéïò 1997-ÉáíïõÜñéïò 1998 ) , ôá ìáêñïðñüèåóìá åðéôüêéá óôçí Éñëáíäßá Þôáí 6,2% óå ìÝóï üñï , äçë .
The level of long-term interest rates was 6.2% , i.e. below the respective reference value . The Irish pound has been participating in the ERM for much longer than two years .
êÜôù áðü ôçí ôéìÞ áíáöïñÜò 7,8% ôïõ êñéôçñßïõ ôùí åðéôïêßùí , ç ïðïßá ïñßæåôáé âÜóåé ôùí ôñéþí Êñáôþí-Ìåëþí ìå ôéò êáëýôåñåò åðéäüóåéò áðü Üðïøç óôáèåñüôçôáò ôéìþí . Áõôü óõíÝâç êáé ôï 1997 ( óýíïëï Ýôïõò ) , êáèþò êáé ôï 1996 ( âë .
During the reference period it has normally traded significantly above its unchanged central rates against other ERM currencies , reflecting an autonomous upward trend of the currency in the light of buoyant domestic economic conditions .
Óôï ìåãáëýôåñï ìÝñïò ôçò ðåñéüäïõ áðü ôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 , ðáñáôçñåßôáé óõãêñéôéêÜ óôåíÞ óýãêëéóç ôùí ìáêñïðñüèåóìùí åðéôïêßùí ôçò Éñëáíäßáò ðñïò åêåßíá ôùí ÷ ùñþí ôçò ÅÅ ìå ôéò ÷ áìçëüôåñåò áðïäüóåéò ïìïëüãùí , åêôüò áðü ôá ôÝëç 1992-áñ ÷ Ýò 1993 , äçë .
This is also mirrored in relatively high exchange rate volatility and short-term interest rate differentials , both of which have declined more recently as the Irish pound has moved closer to its bilateral central rates against other ERM currencies .
Ïé êõñéüôåñïé ðáñÜãïíôåò ðïõ óõíåôÝëåóáí óôçí åîÝëéîç áõôÞ Þôáí ïé óõãêñéôéêÜ ÷ áìçëïß ñõèìïß ðëçèùñéóìïý êáé ç âåëôßùóç ôùí äçìüóéùí ïéêïíïìéêþí ôçò ÷ þñáò . áíïäéêÝò ðéÝóåéò óôïí ðëçèùñéóìü , ï ïðïßïò ôá åðüìåíá äýï Ýôç åíäÝ ÷ åôáé íá áõîçèåß ðñïò ôï 3 %.
11 In 1997 Ireland achieved a general government surplus of 0.9% of GDP , thereby comfortably meeting the 3 % reference value , and the outlook is for a surplus of 1.1% of GDP in 1998 .
Ôï åðßðåäï ôùí ìáêñïðñüèåóìùí åðéôïêßùí Þôáí 6,2% äçë .
The debtto-GDP ratio is above the 60 % reference value .
Ôüóï üìùò ç ìåôáâëçôüôçôá üóï êáé ïé äéáöïñÝò ôùí åðéôïêßùí ðåñéïñßóôçêáí ðñüóöáôá êáèþò ç éñëáíäéêÞ ëßñá ðëçóßáóå ôéò äéìåñåßò êåíôñéêÝò éóïôéìßåò ôçò Ýíáíôé Üëëùí íïìéóìÜôùí ôïõ ÌÓÉ . 11 Ôï 1997 ç Éñëáíäßá ðñáãìáôïðïßçóå ðëåüíáóìá ôïõ åõñýôåñïõ êõâåñíçôéêïý ôïìÝá 0,9% ôïõ ÁÅÐ , åðéôõã ÷ Üíïíôáò Ýôóé ìå Üíåóç ôçí ôéìÞ áíáöïñÜò 3 %, êáé õðÜñ ÷ åé ðñïïðôéêÞ ãéá ðëåüíáóìá 1,1% ôïõ ÁÅÐ ôï 1998 .
Long-term interest rate developments Over the reference period from February 1997 to January 1998 long-term interest rates in Ireland were 6.2% on average , and thus stood below the reference value for the interest rate criterion of 7.8% set on the basis of the three best-performing Member States in terms of price stability .
Áöïý êïñõöþèçêå ôï 1993 , ï ëüãïò ìåéþèçêå êáôÜ 30,0 åêáôïóôéáßåò ìïíÜäåò ãéá íá öèÜóåé óôï 66,3% ôï 1997 , áíôáíáêëþíôáò , ìåôáîý Üëëùí , ôçí ðïëý Ýíôïíç Üíïäï ôïõ ðñáãìáôéêïý ÁÅÐ .
This was also the case for 1997 as a whole , as well as for 1996 ( see Table 11 ) . Long-term interest rates have been on a broadly declining trend since the early 1990s ( see Chart 6a ) .
Ùò ðñïò ôç äéáôçñçóéìüôçôá ôùí äçìïóéïíïìéêþí åîåëßîåùí , õðÜñ ÷ åé ðñïïðôéêÞ ìåßùóçò ôïõ ëüãïõ ôïõ ÷ ñÝïõò óå 59,5% ôïõ ÁÅÐ ôï Óýíïøç óõìðåñáóìÜôùí Óôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò ç Éñëáíäßá ðÝôõ ÷ å ñõèìü ðëçèùñéóìïý ( ÅíÄÔÊ ) 1,2% , äçë .
A comparatively close convergence of Irish long-term interest rates with those prevailing in the EU countries with the lowest bond yields has been observed over most of the period since the beginning of the 1990s , with the exception of late 1992 and early 1993 , the period marked by the ERM crisis ( see Chart 6b ) .
Ç áýîçóç ôïõ êüóôïõò åñãáóßáò áíÜ ìïíÜäá ðñïúüíôïò óçìåßùóå ðôþóç , åíþ ïé ÷ áìçëïß ñõèìïß ðëçèùñéóìïý ðñïêýðôïõí êáé áðü áñêåôïýò Üëëïõò óõíáöåßò äåßêôåò ôéìþí . ¼ óïí áöïñÜ ôéò ðñïïðôéêÝò , õðÜñ ÷ ïõí êÜðïéåò åíäåßîåéò üôé èá áóêçèïýí Üìåóåò 154
11 With effect from 16 March 1998 , i.e. after the reference period applied in this Report , the bilateral central rates of the Irish pound against other currencies of the ERM were revalued by 3 %.
Áðü ôéò 16 Ìáñôßïõ 1998 äçë . ìåôÜ ôçí ðåñßïäï áíáöïñÜò ôçò ¸ êèåóçò , ïé äéìåñåßò êåíôñéêÝò éóïôéìßåò ôçò éñëáíäéêÞò ëßñáò Ýíáíôé Üëëùí íïìéóìÜôùí ôïõ ÌÓÉ áíáôéìÞèçêáí êáôÜ 3 %.
With effect from 16 March 1998 , i.e. after the reference period referred to in this Report , the bilateral central rates of the Irish pound against other currencies of the ERM were revalued by 3 %.
1998 , äçë . ìüëéò êÜôù áðü ôçí ôéìÞ áíáöïñÜò .
in the debt ratio to 59.5% of GDP in 1998 , i.e. just below the reference value .
¼ óïí áöïñÜ ôéò ðéï ìáêñïðñüèåóìåò ðñïïðôéêÝò , åÜí ôá óçìåñéíÜ äçìïóéïíïìéêÜ ðëåïíÜóìáôá äéáôçñçèïýí , ç Éñëáíäßá èá ðñÝðåé íá åßíáé óå èÝóç íá óõììïñöùèåß ìå ôï ìåóïðñüèåóìï óôü ÷ ï ôïõ Óõìöþíïõ Óôáèåñüôçôáò êáé ÁíÜðôõîçò ðïõ èá ôåèåß óå éó ÷ ý áðü ôï 1999 , äçë . íá äéáèÝôåé ðñïûðïëïãéóìü ó ÷ åäüí éóïóêåëéóìÝíï Þ ðëåïíáóìáôéêü , åíþ ï ëüãïò ôïõ ÷ ñÝïõò èá ìåéùèåß áêüìç ðåñéóóüôåñï êÜôù áðü 60 %.
Looking further ahead , if current fiscal surpluses are maintained , Ireland should comply with the medium-term objective of the Stability and Growth Pact , effective from 1999 onwards , of having a budgetary position that is close to balance or in surplus , and the debt ratio would fall further below 60 %.
Ùò ðñïò ôïõò Üëëïõò ðáñÜãïíôåò , ôï 1996 ï ëüãïò ôïõ åëëåßììáôïò äåí õðåñÝâç ôï ëüãï äçìüóéùí åðåíäýóåùí / ÁÅÐ .
With regard to other factors , in 1996 the deficit position did not exceed the ratio of public investment to GDP .
ÊáôÜëïãïò ðéíÜêùí êáé äéáãñáììÜôùí * ÉÑËÁÍÄÉÁ É Ç åîÝëéîç ôùí ôéìþí Ðßíáêáò 1 Éñëáíäßá : Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ÄéÜãñáììá 1 Éñëáíäßá : Ç åîÝëéîç ôùí ôéìþí Ðßíáêáò 2 Éñëáíäßá : Äåßêôåò ðëçèùñéóìïý êáé óõíáöåßò äåßêôåò Ðßíáêáò 3 Éñëáíäßá : Ðñüóöáôåò ôÜóåéò ðëçèùñéóìïý êáé ðñïâëÝøåéò ( á ) Ðñüóöáôåò ôÜóåéò ôïõ ðëçèùñéóìïý ôéìþí êáôáíáëùôÞ ( â ) ÐñïâëÝøåéò ãéá ôïí ðëçèùñéóìü
List of Tables and Charts * IRELAND I Price developments Table 1 Chart 1 Table 2 Table 3 Ireland : HICP inflation Ireland : Price developments Ireland : Measures of inflation and related indicators Ireland : Recent inflation trends and forecasts ( a ) Recent trends in consumer price inflation ( b ) Inflation forecasts II
ÄçìïóéïíïìéêÝò åîåëßîåéò Ðßíáêáò 4 Éñëáíäßá : ¸ ëëåéììá êáé ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÄéÜãñáììá 2 Éñëáíäßá : ÁêáèÜñéóôï ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ( á ) Åðßðåäá ( â ) ÅôÞóéåò ìåôáâïëÝò êáé ðñïóäéïñéóôéêïß ðáñÜãïíôåò Ðßíáêáò 5 Éñëáíäßá : ÄéÜñèñùóç áêáèÜñéóôïõ ÷ ñÝïõò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÄéÜãñáììá 3 Éñëáíäßá : Ðëåüíáóìá (+) / Ýëëåéììá (-) åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ( á ) Åðßðåäá ( â ) ÅôÞóéåò ìåôáâïëÝò êáé ðñïóäéïñéóôéêïß ðáñÜãïíôåò ÄéÜãñáììá 4 Éñëáíäßá : ÄáðÜíåò êáé Ýóïäá åõñýôåñïõ êõâåñíçôéêïý ôïìÝá Ðßíáêáò 6 Éñëáíäßá : ¸ óïäá êáé äáðÜíåò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá Ðßíáêáò 7 Éñëáíäßá : Äåßêôçò åîÜñôçóçò çëéêéùìÝíùí : ðñïâëÝøåéò
Fiscal developments Table 4 Ireland : General government financial position Chart 2 Ireland : General government gross debt ( a ) Levels ( b ) Annual changes and underlying factors Table 5 Ireland : General government gross debt - structural features Chart 3 Ireland : General government surplus (+) / deficit (-) ( a ) Levels ( b ) Annual changes and underlying factors Chart 4 Ireland : General government expenditure and receipts Table 6 Ireland : General government budgetary position Table 7 Ireland : Projections of elderly dependency ratio
III Ç åîÝëéîç ôçò óõíáëëáãìáôéêÞò éóïôéìßáò Ðßíáêáò 8 ( á ) Éñëáíäßá : Óôáèåñüôçôá óõíáëëáãìáôéêÞò éóïôéìßáò ( â ) Âáóéêïß äåßêôåò ðéÝóåùí óôç ëßñá Éñëáíäßáò ÄéÜãñáììá 5 Ëßñá Éñëáíäßáò : Áðïêëßóåéò áðü ôéò äéìåñåßò êåíôñéêÝò éóïôéìßåò ÌÓÉ Ðßíáêáò 9 Ëßñá Éñëáíäßáò : Äåßêôåò ðñáãìáôéêÞò óôáèìéóìÝíçò óõíáëëáãìáôéêÞò éóïôéìßáò Ýíáíôé ôùí Êñáôþí-Ìåëþí ôïõ ÌÓÉ Ðßíáêáò 10 Éñëáíäßá : ÅîùôåñéêÝò åîåëßîåéò
III Exchange rate developments Table 8 ( a ) Ireland : Exchange rate stability ( b ) Key indicators of exchange rate pressure for the Irish pound Chart 5 Irish pound : Deviations from ERM bilateral central rates Table 9 Irish pound : Measures of the real effective exchange rate vis - - vis ERM Member States Table 10 Ireland : External developments
ÉV Ç åîÝëéîç ôùí ìáêñïðñüèåóìùí åðéôïêßùí Ðßíáêáò 11 Éñëáíäßá : Ìáêñïðñüèåóìá åðéôüêéá ÄéÜãñáììá 6 ( á ) Éñëáíäßá : Ìáêñïðñüèåóìá åðéôüêéá ( â ) Éñëáíäßá : ÄéáöïñÝò ìáêñïðñüèåóìùí åðéôïêßùí êáé ðëçèùñéóìïý ÄÔÊ Ýíáíôé ôùí ÷ ùñþí ôçò ÅÅ ìå ôá ÷ áìçëüôåñá ìáêñïðñüèåóìá åðéôüêéá
IV Long-term interest rate developments Table 11 Ireland : Long-term interest rates Chart 6 ( a ) Ireland : Long-term interest rate ( b ) Ireland : Long-term interest rate and CPI inflation differentials against EU countries with lowest long-term interest rates
Éñëáíäßá : Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò ) 1996 Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ÔéìÞ áíáöïñÜò ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ .
Ireland : HICP inflation ( annual percentage changes ) 1996 HICP inflation Reference value Source : European Commission .
ÍïÝ . 97 1,1 -
Nov 97 1.1 -
Äåê . 97 1,0 -
Dec 97 1.0 -
Éáí . 98 1,2 -
Jan 98 1.2 -
97-Éáí . 98 1,2 2,7
Feb 97 - Jan 98 1.2 2.7
ÄéÜãñáììá 1 Éñëáíäßá : Ç åîÝëéîç ôùí ôéìþí ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò ) ÄÔÊ Êüóôïò åñã .
Ireland : Price developments ( annual percentage changes ) CPI 5 4 3 2 1 0 - 1 - 2 - 3 - 4 - 5 1990 Source : National data .