European Community: Macroeconomic Consequences of Completion of the Internal Market
|GDP||Consumer Price Index||Employment1||Public Deficit2||External Balance2|
|Total gain without accompanying measures||4.5||-6.1||1,800||2.2||1.0|
|Total gain with accompanying measures|
In percent of GDP.
This scenario assumes that accompanying macroeconomic policy measures exploit 30 percent of the room for maneuver created by the fall in consumer prices and the reduction in the fiscal deficit.
Assumes budgetary expansion to exploit the entire room for maneuver created by the fall in prices and the reduction in the fiscal deficit.
Assumes budgetary expansion up to the point where the Community’s external balance is left unaffected by the creation of the single market.