Tax Increase and Tariff Elimination in 1990-91, Combined with Shift in Export Equation
|Nominal GDP a||681.8||851.2|
|Real GDP b||52.4||57.0|
|Government spending a||173.3||199.1|
|of which: import duties||—||—|
|Government budget deficit a||-37.0||-20.5|
|Trade balance a||-4.3||-16.2|
|Inflation rate c||28.4||14.8|
|Interest rate d||35.3||65.9|
|Exchange rate d||2,663.2||3,296.0|
|Real exchange rate f||107.7||99.9|
|Scarcity price of quota g||—||—|
In 1000 x billions of pesos.
In 1000 x billions of 1985 pesos.
Rate of inflation in the wholesale price index.
Defined as WPI/e where WPI is the wholesale price index and e is the nominal exchange rate.
The scarcity price of the quota is calculated as the ratio, in percent, of the quota price to the final price of the import, not including tariffs. The scarcity price thus represents the share of the import price attributable to the quota.