Table 3.

Overview of adjustment requirements.

						$p{b}_{2023/31}^{\ast }$
	$d$		$p{b}^1$		${(i-y)}^2$	$\alpha =0.05$	$\alpha =0.05$	$\alpha =0.03$	$\alpha =0.01$
% of GDP	2019	2022	2019	2022	$2023-31$		$nca$
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)
AT	70.6	79.4	2.0	−1.5	−2.4	−1.1	−1.0	−1.3	−1.6
BE	97.7	113.1	0.1	−3.6	−1.8	0.4	0.0	−0.8	−1.8
CY	91.1	97.6	3.5	−0.2	−0.8	0.4	−0.7	−1.3	−2.0
DE	58.9	69.2	2.3	−2.1	−2.3	−1.1	−1.4	−1.6	−1.7
EE	8.6	20.4	0.1	−2.1	−4.5	−2.8	−2.9	−2.2	−1.4
ES	95.5	118.2	−0.6	−2.0	−1.1	1.2	0.6	−0.3	−1.4
FI	59.5	71.2	−0.1	−1.7	−3.0	−1.4	−1.2	−1.4	−1.6
FR	97.5	113.7	−1.7	−4.2	−2.4	−0.3	−0.3	−1.1	−2.1
IE	57.2	52.3	1.8	−2.4	−4.8	−2.8	−2.6	−2.5	−2.3
IT	134.3	151.4	1.9	−2.8	−1.1	2.4	2.2	0.8	−0.8
LT	35.9	44.1	1.4	−2.5	−2.6	−1.5	−2.0	−1.8	−1.5
LU	22.3	25.6	2.6	0.7	−3.4	−2.3	−2.3	−1.7	−1.1
LV	36.7	50.7	0.1	−3.4	−2.5	−1.5	−1.9	−1.7	−1.6
MT	40.7	62.4	1.8	−3.9	−2.6	−1.5	−1.7	−1.7	−1.7
NL	48.5	56.8	2.5	−2.0	−1.6	−1.1	−1.5	−1.4	−1.4
PT	116.6	123.9	3.1	−1.1	−1.1	1.4	1.3	0.4	−0.8
SK	48.1	60.0	−0.1	−3.2	−3.9	−2.4	−2.1	−2.1	−2.1
SN	65.6	76.4	2.1	−4.9	−3.2	−1.9	−2.1	−2.4	−2.7
EA	84.0	96.4	0.9	−2.6	−2.1	−0.2	−0.4	−1.0	−1.6

Notes: Debt and the primary balance ratio are labelled $d$ and $pb$, respectively. Nominal cyclically adjusted figures are labelled “nca”. $\alpha$ corresponds to the speed of debt adjustment.

${}^{\left(1\right)}$ Primary balances in 2022 are shown in cyclically-adjusted terms.

${}^{\left(2\right)}$ Interest-growth differentials are shown in percent.

AMECO and own computations.