natgillin/translations-raw huggingface dataset:
budget deficit declined in the fiscal year 2006 compared with 2005 , primarily owing to increased corporate and personal tax revenues .
primanjkljaj zveznega proračuna v fiskalnem letu 2006 zmanjšal v primerjavi s predhodnim letom , predvsem na račun večjih prihodkov iz naslova davkov pravnih in fizičnih oseb .
According to estimates by the Congressional Budget Office , the federal budget deficit stood at 1.9% of GDP in the fiscal year 2006 .
Po ocenah kongresnega urada za proračun ( CBO ) je primanjkljaj zveznega proračuna v fiskalnem letu 2006 znašal 1,9% BDP .
In Japan , the economic recovery continued in 2006 , with real GDP growing at 2.2% after 1.9% in 2005 .
Na Japonskem se je gospodarsko okrevanje nadaljevalo tudi v letu 2006 , pri čemer je rast realnega BDP znašala 2,2% ( v primerjavi z 1,9% leta 2005 ) .
GDP growth remained above potential for the third consecutive year .
Rast BDP je ostala nad potencialno že tretje leto zapored .
Economic activity was supported by a rapid expansion in private non-residential investment and the continuing strength of exports .
Gospodarsko aktivnost je podpirala hitra ekspanzija zasebnih nestanovanjskih naložb in vztrajno močan izvoz .
The robustness of non-residential investment mainly reflected favourable financing conditions , rising corporate profits and strong business confidence .
Robustnost nestanovanjskih naložb je bila pretežno posledica ugodnih pogojev financiranja , rastočih podjetniških dobičkov in močnega podjetniškega zaupanja .
All in all , the domestic demand recovery was resilient , notwithstanding a significant slowdown in private consumption growth in 2006 as compared with the previous year .
Na splošno je bilo okrevanje domačega povpraševanja trdno , navkljub precejšnji upočasnitvi rasti zasebnega trošenja v letu 2006 v primerjavi s predhodnim letom .
Export activity benefited from the stimulating effect of the weaker yen and stronger demand for machinery and equipment .
Izvozna aktivnost je bila deležna spodbudnih učinkov s strani šibkejšega jena ter močnejšega povpraševanja po strojih in opremi .
Reflecting the improvement in the balance sheets of Japanese banks and their restored risk-taking capacity , as well as the effects of the ongoing recovery , bank lending increased in 2006 for the first time in ten years .
Leta 2006 so se prvič v desetih letih povečala bančna posojila in sicer zaradi izboljšanja bilanc japonskih bank in njihove ponovno pridobljene sposobnosti za sprejemanje tveganj , pa tudi učinkov tekočega okrevanja .
Deflationary concerns eased further in Japan in 2006 .
Zaskrbljenost zaradi deflacije se je leta 2006 na Japonskem še zmanjšala .
The annual rate of change in consumer prices returned to positive territory in the course of the year .
Letna stopnja spremembe cen življenjskih potrebščin je tekom leta ponovno postala pozitivna .
Inflation remained subdued , however , owing to persistent downward pressures , especially on wages .
Inflacija je kljub temu ostala neizrazita zaradi vztrajnih navzdol usmerjenih pritiskov , še zlasti na plače .
For the year as a whole , the annual rate of change in consumer prices was 0.3% after - 0.3% in 2005 .
Za leto kot celoto je bila letna stopnja spremembe cen življenjskih potrebščin 0,3% , medtem ko je znašala - 0,3% leta 2005 .
In March 2006 the Bank of Japan ended its quantitative easing policy , which had been in place since March 2001 , and in July raised its target for the uncollateralised overnight call rate from zero to 0.25% .
Marca 2006 je Bank of Japan opustila svojo kvantitativno ohlapno politiko , ki jo je vodila od marca 2001 dalje , in julija zvišala svojo ciljno izklicno obrestno mero za nezavarovane vloge čez noč z nič na 0,25% .
In 2006 the Bank of Japan withdrew excess liquidity from the banking sector , and the level of current account balances held at the Bank of Japan by Japanese private banks decreased significantly , from JPY 31 trillion in March to around JPY 10 trillion at the end of the year . ECB Annual Report 2006
Poleg tega je v letu 2006 tudi črpala presežno likvidnost iz bančnega sektorja , tako da se je raven saldov tekočih računov zasebnih bank pri Bank of Japan precej znižala , z 31 bilijonov japonskih ECB Letno poročilo 2006
In emerging Asia , growth remained strong in 2006 owing to resilient domestic demand , especially in the region 's largest economies , despite decelerating external demand in the second half of the year .
V rastočih azijskih gospodarstvih je rast v letu 2006 ostala močna na račun trdnega domačega povpraševanja , še zlasti v največjih gospodarstvih regije , navkljub padajočemu zunanjemu povpraševanju v drugi polovici leta .
Price pressures were contained by monetary policy tightening measures across most of the region and , after the summer , by falling oil prices .
Cenovne pritiske so zadrževali omejevalni ukrepi denarne politike v skoraj vsej regiji in po poletju tudi padajoče cene nafte .
Exchange rate developments were divergent : in real effective terms , the currencies of Korea , Thailand and Indonesia appreciated during 2006 , whereas the currencies of other emerging Asian countries either depreciated ( e.g. Hong Kong SAR and Taiwan , Province of China ) or remained broadly unchanged ( China , India and Malaysia ) . At the same time , foreign exchange reserves continued to grow in several economies in the region .
Gibanja tečajev so bila različna : realno efektivno so korejska , tajska in indonezijska valuta med letom 2006 pridobile na vrednosti , medtem ko so valute drugih rastočih azijskih gospodarstev izgubile na vrednosti ( npr . valuti posebnega upravnega območja Hong Konga in Tajvana , province Kitajske ) ali ostale bolj ali manj nespremenjene ( valute Kitajske , Indije in Malezije ) .
Focusing on China , the economy continued to grow strongly in 2006 .
Če se osredotočimo na Kitajsko , je njeno gospodarstvo še naprej močno raslo tudi v letu 2006 .
Economic activity accelerated in the first half of the year on the back of a rebound in manufacturing , real estate and local government investment coupled with strong exports .
Gospodarsko aktivnost je v prvi polovici leta pospeševala oživitev proizvodnje , nepremičninskih trgov in naložb lokalne države , ki jo je spremljal močan izvoz .
Fixed capital investment and industrial value added growth moderated slightly in the second half of 2006 as a result of monetary policy tightening , including administrative measures , but overall GDP growth was almost unaffected .
Rast naložb v osnovna sredstva in dodane vrednosti v industrijskem sektorju se je nekoliko upočasnila v drugi polovici leta 2006 zaradi omejevanja denarne politike , vključno z administrativnimi ukrepi , kar pa skoraj ni vplivalo na skupno rast BDP .
Inflationary pressures remained low but strengthened towards the end of the year .
Inflacijski pritiski so ostali majhni , vendar so se proti koncu leta okrepili .
Following the introduction of a more flexible exchange rate regime in 2005 , the Chinese renminbi continued to appreciate gradually but steadily against the US dollar in 2006 , whereas it depreciated against the euro .
Po uvedbi bolj prilagodljivega režima deviznega tečaja leta 2005 je kitajski renminbi tudi v letu 2006 še naprej postopoma a vztrajno pridobival vrednost v primerjavi z ameriškim dolarjem , medtem ko jo je v primerjavi z eurom izgubljal .
The current account surplus exceeded the previous record level reached in 2005 , contributing to the increase in China 's foreign exchange reserves , which reached a cumulative level of more than USD 1 trillion .
Presežek tekočega računa plačilne bilance je posekal prejšnji rekordni presežek , ki ga je Kitajska zabeležila leta 2005 , kar je prispevalo k povečanju kitajskih deviznih rezerv , ki so se tako kumulativno povzpele nad 1 bilijon USD .
In Latin America , economic growth remained dynamic , supported by the continued favourable external environment ( including high prices for the commodities exported by the region ) and robust domestic demand .
V Latinski Ameriki je gospodarska rast ostala dinamična , podprta s še naprej ugodnimi zunanjimi razmerami ( vključno z visokimi cenami izvoznih primarnih surovin ) in robustnim domačim povpraševanjem .
Among the major economies in Latin America , Argentina continued to post high real economic growth rates , although persistently high inflation posed a challenge to the authorities .
Med večjimi gospodarstvi Latinske Amerike je Argentina še naprej beležila visoke stopnje realne gospodarske rasti , čeprav so se oblasti morale boriti z vztrajno visoko inflacijo .
The pace of economic expansion in the region 's leading economies , Brazil and Mexico , was more moderate albeit still robust , especially in the latter case , while inflation was contained .
Vodilni gospodarstvi regije , Brazilija in Mehika , sta zabeležili bolj umirjen , čeprav še vedno robusten tempo gospodarske ekspanzije , še zlasti slednja , in uspešno obvladovali inflacijo .
Many Latin American economies continued to take advantage of the still benign international financing conditions to engage in active debt management operations , in part through outright buybacks as well as swaps , in a bid to reduce debt servicing costs and improve maturity profiles .
Veliko gospodarstev Latinske Amerike je še naprej izkoriščalo še vedno prijazne mednarodne pogoje financiranja za aktivno upravljanje s svojimi dolgovi v obliki dokončnih odkupov in zamenjav , s katerimi so želela zmanjšati stroške servisiranja in izboljšati profile zapadlosti .
Coupled with improved economic fundamentals , this helped to bring about a further reduction in financial vulnerability across the region .
Skupaj z izboljšanimi temeljnimi ekonomskimi dejavniki je to pripomoglo k nadaljnjemu zmanjšanju ranljivosti po vsej regiji .
COMMODITY PRICE DEVELOPMENTS IN 2006 Oil prices rose sharply for most of 2006 ( see Chart 3 ) , with the price of Brent crude oil reaching a new historical high of USD 78 per barrel at the beginning of August ( approximately 35 % higher than at the start of the year ) .
GIBANJA CEN PRIMARNIH SUROVIN V LETU 2006 Cene nafte so večino leta 2006 strmo naraščale ( glej graf 3 ) , pri čemer je cena surove nafte Brent z 78 USD za sodček na začetku avgusta dosegla nov rekord vseh časov ( in približno
The average price of Brent crude oil was USD 65 in 2006 , which is approximately 20 % above the average of the previous year . C h a r t 3 M a i n d eve l o p m e n t s i n c o m m o d i t y m a r ke t s Brent crude oil ( USD / barrel ;
Graf 3 Glavna gibanja na trgih primarnih surovin surova nafta Brent ( USD / sodček ;
left-hand scale ) non-energy commodities ( USD ;
lestvica na levi strani ) primarne surovine brez energentov ( USD ;
index : 2000 = 100 ;
indeks : 2000 = 100 ;
right-hand scale ) 85 75 65 55 45 35 25 15 210 190 170 150 130 110 90 70 2002
lestvica na desni strani ) 85 75 65 55 45 35 25 15 2002 2003 2004 2005 2006 210 190 170 150 130 110 90 70
Sources : Bloomberg and Hamburg Institute of International Economics .
Vira : Bloomberg in Hamburg Institute of International Economics .
Global oil demand growth , which had led to capacity constraints throughout the oil supply chain since mid-2003 , eased somewhat during 2006 compared with the previous years .
Rast svetovnega povpraševanja po nafti , ki vse od srede leta 2003 povzroča omejene zmogljivosti v vsej oskrbni verigi naftne industrije , se je tekom leta 2006 v primerjavi s predhodnimi leti nekoliko umirila .
This was mainly due to weaker oil demand from OECD countries , which partly offset the increase in demand from non-OECD countries , in particular China .
To se je zgodilo predvsem na račun šibkejšega povpraševanja po nafti s strani držav članic OECD , kar je delno ublažilo posledice večjega povpraševanja s strani držav nečlanic OECB , zlasti Kitajske .
However , prices were pushed up by other factors that emerged on the supply side .
Vendar pa so cene potiskali navzgor tudi drugi dejavniki , ki so se pojavili na strani ponudbe .
In particular , the surge in oil prices over the first seven months of the year reflected mainly supply disruptions and heightened concerns over the security of future oil supplies at a time when oil market fundamentals were already tight .
Še zlasti je skok cen nafte v prvih sedmih mesecih leta pretežno odražal motnje v dobavi in večjo zaskrbljenost v zvezi z zanesljivostjo preskrbe in to v trenutku , ko so bili temeljni dejavniki naftnega trga že zaostreni .
Such fears were aggravated by the continuing geopolitical tensions in the Middle East -- in particular with respect to Iran 's nuclear stand-off and the outbreak of fighting between Israel and Lebanon .
Te strahove so še poslabšale nenehne geopolitične napetosti na Bližnjem vzhodu -- še zlasti mrtva točka , v kateri so se znašla pogajanja o iranskem jedrskem orožju , ter izbruh spopadov med Izraelom in Libanonom .
After their early-August peak , however , oil prices declined substantially as the receding threat from hurricanes in the Gulf of Mexico , a noticeable moderation in geopolitical tensions and an easing of petrol market tightness took some pressure off oil markets .
Ne glede na vse so cene nafte po višku , ki so ga dosegle na začetku avgusta , znatno padle , ker se je pritisk na naftne trge nekoliko zmanjšal v luči manjše negotovosti glede orkanov v Mehiškem zalivu , opazne umiritve geopolitičnih napetosti in omiljenja zaostrenih pogojev naftnega trga .
The fall in prices prompted the Organization of the Petroleum Exporting Countries ( OPEC ) to announce in October a 1.2 million barrel per day output cut from November , which was followed by the decision in December to further cut supply by 0.5 million barrels per day from February 2007 .
Padec cen je Organizacijo držav izvoznic nafte ( OPEC ) spodbudil , da je oktobra napovedala novembrsko zmanjšanje proizvodnje za 1,2 milijona sodčkov na dan , decembra pa še nadaljnje zmanjšanje za 0,5 milijona sodčkov na dan od februarja dalje .
However , an unusually mild start to the winter in most parts of the northern hemisphere , which had a dampening effect on demand for heating fuels , and limited compliance by OPEC with the announced cut exerted some downward pressure on prices towards the end of 2006 and particularly in early January 2007 .
Vendar sta nenavadno mil začetek zime na skoraj vsej severni polobli , ki je imel za posledico manjše povpraševanje po gorivu za ogrevanje , in ne povsem dosledno spoštovanje napovedanega zmanjšanja proizvodnje povzročila nekaj navzdol usmerjenih pritiskov na cene proti koncu leta 2006 in še zlasti na začetku januarja 2007 .
Prices rebounded in the second half of January , reflecting colder weather conditions in the northern hemisphere and resultant higher demand , lower OPEC supply and increased geopolitical concerns .
Cene so ponovno začele rasti v drugi polovici januarja zaradi mrzlega vremena na severni polobli in posledično višjega povpraševanja , pa tudi manjših dobav držav OPEC in večje geopolitične zaskrbljenosti .
The prices of non-energy commodities increased considerably throughout 2006 , amid some volatility .
Cene primarnih surovin brez energentov so se tekom leta 2006 občutno povečale in bile vseskozi nekoliko volatilne .
Non-energy commodity prices as measured by the Hamburg Institute of International Economics aggregate index ( see Chart 3 ) soared in the first half of the year , supported mainly by surging metals prices .
Cene primarnih surovin brez energentov , merjene s skupnim indeksom Hamburškega instituta za ekonomske raziskave ( glej graf 3 ) , so v prvi polovici leta poskočile , podprte pretežno s skokom cen kovin .
Solid demand from emerging Asian economies , in particular China , high energy prices , limited production growth and low inventory levels pushed most industrial metals prices higher .
Večino cen industrijskih kovin so namreč potisnili kvišku solidno povpraševanje s strani rastočih azijskih gospodarstev , še zlasti Kitajske , visoke cene energentov , omejena rast proizvodnje in nizka raven zalog .
After reaching a peak in May , non-energy commodity prices subsequently declined somewhat but remained at elevated levels by historical standards .
Cene primarnih surovin brez energentov so po višku , ki so ga dosegle maja , nekoliko padle , vendar so zgodovinsko gledano ostale na visoki ravni .
Higher agricultural prices also contributed to a high non-energy commodity price level towards the end of the year .
K njihovi visoki ravni , ki so jo dosegle proti koncu leta , so prispevale tudi višje cene kmetijskih surovin .
In aggregate terms , non-energy commodity prices ( denominated in US dollars ) increased by an average of approximately 26 % in 2006 compared with the previous year .
Agregatno gledano so se cene primarnih surovin brez energentov ( izražene v ameriških dolarjih ) v letu 2006 v primerjavi s predhodnim letom v povprečju povečale za 26 %.
In early 2007 the prices of non-energy commodities continued to increase , with the total price index reaching a new nominal high towards the end of February .
Na začetku leta 2007 so še naprej rasle , tako da je proti koncu februarja njihov skupni indeks dosegel novo nominalno najvišjo vrednost .
2.2 MONETARY AND FINANCIAL DEVELOPMENTS M3 GROWTH CONTINUED TO RISE , MAINLY DRIVEN BY THE LOW LEVEL OF INTEREST RATES AND THE STRENGTHENING OF ECONOMIC ACTIVITY In 2006 monetary growth continued to rise , reaching at the end of the year the highest annual rate recorded since the start of Stage Three of EMU .
2.2 DENARNA IN FINANČNA GIBANJA RAST M3 SE JE ŠE NAPREJ KREPILA , PRETEŽNO ZARADI NIZKE RAVNI OBRESTNIH MER IN KREPITVE GOSPODARSKE AKTIVNOSTI V letu 2006 se je rast denarja še naprej krepila in konec leta dosegla najvišjo letno stopnjo vse od začetka tretje faze EMU .
Strong M3 growth was mainly driven by the low level of interest rates and the strength of economic activity in the euro area , which also supported vigorous private sector credit expansion .
Močna rast M3 je bila predvsem posledica nizkih obrestnih mer in močne gospodarske aktivnosti v euroobmočju , ki so podpirale tudi živahno ekspanzijo kreditov zasebnemu sektorju .
At the same time , rising interest rates started to affect monetary developments over the course of the year , although largely through substitution among the components of M3 rather than by curtailing overall M3 growth .
Hkrati so na denarna gibanja tekom leta začele vplivati še naraščajoče obrestne mere , čeprav pretežno le na zamenjave med komponentami M3 in ne na ECB Letno poročilo 2006
Overall , the continued strengthening of monetary growth contributed further to the already ample liquidity situation and , in conjunction with strong credit expansion , pointed to upside risks to price stability over the medium to longer term . After having declined in the fourth quarter of 2005 , M3 growth accelerated in the first months ECB Annual Report 2006
rast M3 . Na splošno je vztrajna krepitev rasti denarja še prispevala k že tako obsežni likvidnosti in skupaj z močno kreditno ekspanzijo opozarjala na tveganja navzgor usmerjenih pritiskov na cenovno stabilnost v srednjeročnem do dolgoročnejšem obdobju .
25 of 2006 , with the annual rate of growth reaching 8.6% in the second quarter .
Po padcu v četrtem četrtletju 2005 se je rast M3 v prvih mesecih leta 2006 pospešila , tako da je letna stopnja rasti v drugem četrtletju dosegla 8,6% .
Annual M3 growth moderated temporarily in the third quarter , before strengthening again to 9.0% in the fourth quarter .
V tretjem četrtletju se je letna stopnja rasti M3 prehodno umirila , preden se je v četrtem četrtletju ponovno okrepila na 9,0% .
The December outturn of 9.8% represented the highest annual growth rate recorded since the start of Stage Three of EMU .
Decembrska rast v višini 9,8% je prestavljala najvišjo letno stopnjo rasti vse od začetka tretje faze EMU .
Generally , developments in annual M3 growth were characterised by a rather high degree of volatility in 2006 .
Na splošno je bila za gibanje letne rasti M3 v letu 2006 značilna dokaj visoka stopnja volatilnosti .
The high variation was also visible in shorter-term dynamics of M3 ( i.e. the annualised one-month , three-month and sixmonth rates of growth ) , implying that the variability of the annual rate was not mainly related to base effects .
Ta je bila opazna tudi v kratkoročni dinamiki M3 ( tj . njegovih mesečnih , četrtletnih in polletnih stopnjah rasti na letni ravni ) , kar je kazalo na to , da volatilnost letne rasti morda le ni povezana pretežno samo z baznimi učinki .
As regards developments in the components of M3 , in the first half of 2006 the largest contribution to annual M3 growth came from the expansion of overnight deposits contained in the narrow monetary aggregate M1 , as had been the case in 2005 .
Glede komponent M3 je v prvi polovici leta 2006 , tako kot že leta 2005 , k letni rasti M3 največ prispevala ekspanzija vlog čez noč , ki spadajo v ožji denarni agregat M1 .
By contrast , in the second half of the year time deposits ( which are included in the wider aggregate M2 , but not in M1 ) made the largest contribution .
Nasprotno pa so v drugi polovici leta k rasti M3 največ prispevale vezane vloge ( ki spadajo v širši denarni agregat M2 , ne pa v M1 ) .
Turning to the counterparts of M3 , the strength of monetary expansion in 2006 was driven by the robust growth of MFI credit to the private sector , which , however , started to moderate slightly at the end of the year .
Če pogledamo protipostavke M3 , lahko ugotovimo , da je bila gonilo močne denarne ekspanzije v letu 2006 robustna -- konec leta nekoliko umirjena -- rast kreditov , ki so jih zasebnemu sektorju odobrile monetarno finančne institucije ( MFI ) .
At the same time , the pronounced declines in the net external asset position of MFIs observed up to the end of 2005 faded away in the first months of 2006 .
Hkrati so izraziti padci neto tuje aktive v bilancah MFI , do katerih je prihajalo vse do konca leta 2005 , v prvih mesecih leta 2006 izginili .
Towards the end of the year significant increases in the flow of net external assets were recorded , which appeared to have contributed to the further rise in annual M3 growth .
Proti koncu leta je prišlo do precejšnjih povečanj toka neto zunanje aktive , kar je morda dodatno prispevalo k letni rasti M3 .
Overall , developments in 2006 suggest that the observed vigorous monetary growth was mainly driven by the low level of interest rates and the strength of economic activity in the euro area .
Na splošno gibanja v letu 2006 kažejo , da so bile gonilo živahne rasti denarja pretežno nizke obrestne mere in močna gospodarska aktivnost v euroobmočju .
These dynamic developments can be seen as a continuation of the upward trend in money growth witnessed since mid-2004 , which reflected the steady rise of the annual rate of growth of loans to the private sector ( see Chart 4 ) .
Na ta dinamična gibanja lahko gledamo kot na nadaljevanje navzgor usmerjenega trenda denarne rasti , ki se je začel sredi
This suggests that the factors behind the strong M3 growth in recent years , including C h a r t 4 M 3 a n d l o a n s t o t h e p r i va t e sector ( annual percentage changes ;
Graf 4 M3 in posojila zasebnemu sektorju ( medletne spremembe v odstotkih ;
adjusted for seasonal and calendar effects ) M3 loans to the private sector 12 12
desezonirano in koledarsko prilagojeno ) M3 posojila zasebnemu sektorju 12 12
Source : ECB .
Vir : ECB . leta 2004 in odražal vztrajno rast letne stopnje rasti posojil zasebnemu sektorju ( glej graf 4 ) .
2006 , differ from those underlying the strong M3 growth observed between 2001 and early 2003 .
To kaže , da se dejavniki , ki stojijo za močno rastjo M3 v zadnjih letih , vključno z letom 2006 , razlikujejo od tistih , ki so stali za močno rastjo M3 od leta 2001 do začetka leta 2003 .
In the latter case , portfolio shifts into monetary assets stemming from the heightened geopolitical , economic and financial uncertainty prevailing at that time were the main factor driving monetary expansion , while private sector loan growth was subdued .
Takrat so bile glavni dejavnik prerazporeditve portfeljev v denarna sredstva , do katerih je prišlo v razmerah povečane negotovosti na geopolitičnem , gospodarskem in finančnem področju , medtem ko je bila rast posojil zasebnemu sektorju le zmerna .