Estonia has the lowest debt ratio in the EU. Nine member states recorded a government debt ratio higher than permitted in the Maastricht Treaty; the highest debt ratio was recorded in Greece, at 107.5% of GDP. At 1.6% of GDP, Estonia’s budget surplus is the fourth largest among EU member states. Denmark’s budget surplus is the largest in the EU at 4.9%.
China's former top statistician and ex-director of the National Bureau of Statistics Li Deshui said that the calculation of the US trade deficit is misleading. Deshui said that the calculations do not account for the profits from the US's increasing offshore investments, exports of technologies, patent rights, cultural products and many other intangible goods. The deficit figure also does not take into account the considerable profits earned from overseas-based US firms. Statistics compiled by the UN show that overseas US companies earned aggregate sales of $3.383 billion in 2004, three times as much as US firms export.
The Bank of Indonesia's Senior Deputy Governor Miranda Goeltom told reporters in Jakarta that there room for the Rupiah to appreciate. Investors have noted that Indonesia’s economic fundamentals are strong: the California Public Employees' Retirement System fund last week included Indonesia on its list of approved countries for investments. Goeltom said that other pension funds might follow. The Rupiah has gained 11.3% this year, making it one of the world's best performing currency.
Georgian Foreign Minister Gela Bezhuashvili expressed his discontent with Russian-Georgian relations. The main problem was that Russia had failed to make its interests in the Caucasian region and in Georgia clear. He said that Georgia was ready to "consider fair interests based on mutual respect and acknowledgement of sovereignty and independence". He pointed to Russia's failure to maintain a neutral position in settling conflicts within Georgia.
Mexico registered a trade deficit of $183 million in March, the country's Finance Ministry said. Mexican economists expected a trade surplus of some $350 million. Mexican exports soared 20.9% to $20.96 billion. Imports totalled $21.14 billion, rising 20.7 %.
Mexico’s policymakers should take steps to make the country's economy more competitive, said Paul Wolfowitz on his first visit to Mexico since becoming president of the World Bank. Mexico’s economy has been stable for the last few years after the financial crisis of 1994-95. The main task for the Mexican authorities is to decrease the poverty rate, Wolfowitz said.In his three-day visit Wolfowitz will meet Mexican President Vicente Fox and tycoon Carlos Slim, considered to be the world’s third richest man. The World Bank is financing 19 projects in Mexico, with loans worth ``43.3 billion and grants worth $800 million.