Forecasts of Selected Variables: July 28, 2022
@            Actual and Forecast Values for Selected Variables                
@                                                                             
@ Real GDP and its Endogenous Components                                      
@                                                                             
PRINTVAR FIXEDF LEVELS PCHANGES GDPR CS CN CD IHH IKF IM;                     
 
          GDPR        GDPR        CS          CS          CN          CN      
         Level      %Change      Level      %Change      Level      %Change 
2017.1  4474.15000     1.89969  2018.00000     2.68541   699.35000     3.83573
2017.2  4499.22500     2.26068  2022.02500     0.80021   706.67500     4.25589
2017.3  4531.57500     2.90722  2028.70000     1.32701   709.90000     1.83798
2017.4  4574.15000     3.81137  2041.37500     2.52266   718.22500     4.77396
2018.1  4609.07500     3.08928  2055.95000     2.88665   718.82500     0.33458
2018.2  4647.50000     3.37666  2071.82500     3.12455   723.82500     2.81148
2018.3  4669.90000     1.94190  2084.92500     2.55326   728.15000     2.41159
2018.4  4680.35000     0.89810  2092.92500     1.54368   732.82500     2.59299
2019.1  4708.30000     2.41019  2094.42500     0.28699   737.17500     2.39560
2019.2  4745.65000     3.21108  2105.05000     2.04469   746.32500     5.05811
2019.3  4778.20000     2.77192  2117.75000     2.43517   752.02500     3.09015
2019.4  4800.57500     1.88629  2126.47500     1.65819   752.50000     0.25289
2020.1  4738.00000    -5.11290  2071.12500   -10.01210   765.45000     7.06346
2020.2  4314.55000   -31.23589  1804.32500   -42.39850   737.27500   -13.93021
2020.3  4640.20000    33.78418  1953.77500    37.47987   789.97500    31.80605
2020.4  4691.95000     4.53620  1979.22500     5.31312   787.75000    -1.12187
2021.1  4763.92500     6.27868  1998.35000     3.92153   817.32500    15.88454
2021.2  4842.07500     6.72505  2053.55000    11.51542   844.30000    13.86966
2021.3  4869.75000     2.30589  2094.62500     8.24404   848.50000     2.00471
2021.4  4951.57500     6.89239  2111.52500     3.26658   849.27500     0.36585
2022.1  4932.00000    -1.57196  2127.10000     2.98328   841.32500    -3.69212
2022.2  4920.40000    -0.93748  2148.42500     4.07086   829.57500    -5.47048

2022.3  4950.96621     2.50811  2172.63782     4.58480   824.42571    -2.45984
2022.4  4979.05612     2.28884  2192.99533     3.80099   820.63546    -1.82633
2023.1  4999.67463     1.66674  2210.75662     3.27921   817.91891    -1.31756
2023.2  5019.20277     1.57153  2227.17501     3.00389   815.95246    -0.95822
2023.3  5046.27927     2.17536  2242.49885     2.78069   814.62991    -0.64677
2023.4  5073.77359     2.19725  2256.26323     2.47788   813.58515    -0.51201
2024.1  5100.22569     2.10176  2269.25035     2.32237   813.05880    -0.25853
2024.2  5125.78770     2.01990  2281.56673     2.18874   812.96079    -0.04821
2024.3  5151.19806     1.99774  2293.32627     2.07765   813.22430     0.12972
2024.4  5176.89916     2.01072  2304.65344     1.99036   813.80168     0.28430
2025.1  5202.42525     1.98694  2315.48666     1.89353   814.65626     0.42071
2025.2  5228.12290     1.99051  2325.96584     1.82260   815.74572     0.53600
2025.3  5254.57181     2.03900  2336.21002     1.77338   817.03790     0.63513
2025.4  5282.21586     2.12105  2346.31161     1.74082   818.51069     0.72299
 
          CD          CD          IHH         IHH         IKF         IKF     
         Level      %Change      Level      %Change      Level      %Change 
2017.1   380.92500     2.75027   126.73577    11.73066   515.12115     6.97026
2017.2   385.02500     4.37532   127.63550     2.87009   523.06450     6.31229
2017.3   394.05000     9.71086   127.32332    -0.97474   524.35068     0.98720
2017.4   408.32500    15.29715   129.73165     7.78340   534.25762     7.77438
2018.1   411.95000     3.59866   128.20309    -4.63035   547.58966    10.36162
2018.2   419.05000     7.07433   128.83314     1.98034   558.50650     8.21612
2018.3   423.00000     3.82408   127.12950    -5.18546   561.89892     2.45187
2018.4   424.17500     1.11575   124.65373    -7.56514   565.75294     2.77192
2019.1   423.37500    -0.75227   124.14044    -1.63695   570.75483     3.58363
2019.2   434.35000    10.77926   124.80478     2.15784   581.72857     7.91534
2019.3   443.27500     8.47600   126.19204     4.52086   585.32756     2.49775
2019.4   448.65000     4.93920   126.82612     2.02509   579.94768    -3.62612
2020.1   434.57500   -11.97049   132.05018    17.52255   568.90429    -7.40201
2020.2   432.92500    -1.51010   119.63910   -32.61913   526.19302   -26.81476
2020.3   507.65000    89.06315   134.97048    61.98044   535.13119     6.96968
2020.4   509.10000     1.14742   146.36204    38.27976   552.63828    13.74251
2021.1   563.37500    49.96085   148.67624     6.47619   570.83678    13.83713
2021.2   579.05000    11.60251   141.71147   -17.46205   585.21014    10.45861
2021.3   539.62500   -24.57697   139.44540    -6.24449   590.08655     3.37499
2021.4   542.97500     2.50643   141.25623     5.29642   595.69335     3.85518
2022.1   550.77500     5.87113   140.17877    -3.01633   610.91046    10.61633
2022.2   547.17500    -2.58898   134.98251   -14.02326   610.82833    -0.05377

2022.3   537.57655    -6.83425   134.91675    -0.19472   611.91227     0.71171
2022.4   525.75895    -8.50752   129.59657   -14.86454   607.29198    -2.98619
2023.1   513.56200    -8.96155   126.58423    -8.97840   597.57384    -6.24895
2023.2   501.31971    -9.19963   125.13371    -4.50539   593.47904    -2.71290
2023.3   489.27802    -9.26733   125.12282    -0.03481   599.79803     4.32745
2023.4   477.15302    -9.55014   124.33590    -2.49204   606.17945     4.32411
2024.1   465.56544    -9.36577   125.02102     2.22236   612.20582     4.03632
2024.2   454.60890    -9.08641   126.41860     4.54705   618.10980     3.91368
2024.3   444.35974    -8.71759   128.12317     5.50349   624.08868     3.92564
2024.4   434.87415    -8.26912   129.96704     5.88202   629.91313     3.78568
2025.1   426.23164    -7.71559   132.10701     6.75064   635.51865     3.60735
2025.2   418.45280    -7.10268   134.27034     6.71291   640.93754     3.45456
2025.3   411.55057    -6.43640   136.33961     6.30846   646.27460     3.37262
2025.4   405.53276    -5.72188   138.32002     5.93805   651.62536     3.35311
 
          IM          IM      
         Level      %Change 
2017.1   809.67500     5.91544
2017.2   818.35000     4.35504
2017.3   818.05000    -0.14656
2017.4   839.10000    10.69691
2018.1   844.50000     2.59914
2018.2   847.50000     1.42855
2018.3   859.85000     5.95756
2018.4   868.00000     3.84560
2019.1   868.00000     0.00000
2019.2   871.65000     1.69267
2019.3   869.35000    -1.05130
2019.4   850.22500    -8.51353
2020.1   820.97500   -13.06708
2020.2   679.42500   -53.09206
2020.3   796.87500    89.23206
2020.4   852.95000    31.26033
2021.1   872.10000     9.28759
2021.2   887.17500     7.09570
2021.3   897.40000     4.69045
2021.4   935.17500    17.93081
2022.1   976.50000    18.88237
2022.2   983.92500     3.07634

2022.3   961.34183    -8.86958
2022.4   944.04218    -7.00615
2023.1   930.96547    -5.42667
2023.2   920.64575    -4.36080
2023.3   912.57924    -3.45892
2023.4   906.11896    -2.80173
2024.1   901.75124    -1.91420
2024.2   898.58048    -1.39909
2024.3   896.05136    -1.12109
2024.4   893.87539    -0.96782
2025.1   892.90786    -0.43226
2025.2   892.35567    -0.24714
2025.3   891.81554    -0.24189
2025.4   891.19171    -0.27951
PRINTVAR FIXEDF LEVELS IVF;                                                   
 
          IVF     
         Level  
2017.1    -3.25000
2017.2     4.62500
2017.3    20.85000
2017.4    11.40000
2018.1    15.87500
2018.2     2.77500
2018.3    25.25000
2018.4    21.82500
2019.1    32.92500
2019.2    21.07500
2019.3    17.07500
2019.4     4.07500
2020.1    -7.60000
2020.2   -63.20000
2020.3     6.32500
2020.4    22.20000
2021.1   -22.07500
2021.2   -42.12500
2021.3   -16.70000
2021.4    48.30000
2022.1    47.12500
2022.2    20.25000

2022.3     5.30893
2022.4     8.72597
2023.1    13.46188
2023.2    13.19153
2023.3    10.99216
2023.4    12.76680
2024.1    14.06619
2024.2    14.56234
2024.3    14.52167
2024.4    14.36068
2025.1    14.39385
2025.2    14.29546
2025.3    14.15325
2025.4    14.13495
@                                                                             
@ Prices and Wages                                                            
@                                                                             
PRINTVAR FIXEDF PCHANGES GDPD PF WF WR ;                                      
 
          GDPD        PF          WF          WR      
        %Change     %Change     %Change     %Change 
2017.1     1.85886     1.86353     5.10141     3.17865
2017.2     1.46222     0.94077     0.39533    -0.54036
2017.3     2.00580     1.95333     4.95594     2.94509
2017.4     2.87600     2.52355     4.79060     2.21124
2018.1     2.19584     1.90042     2.41027     0.50034
2018.2     3.32818     3.23335     1.10966    -2.05717
2018.3     1.59623     1.61270     4.83944     3.17553
2018.4     2.10420     1.23503     2.39827     1.14905
2019.1     1.22652     0.93356     7.62215     6.62673
2019.2     2.30805     2.66962     1.48249    -1.15626
2019.3     1.30851     0.72998     1.41883     0.68386
2019.4     1.65414     1.26005     5.69956     4.38427
2020.1     1.00404     0.41619    10.58552    10.12719
2020.2    -1.40941    -4.65711    30.06405    36.41714
2020.3     3.94852     5.24023    -3.06577    -7.89242
2020.4     2.48005     3.06248     3.44306     0.36928
2021.1     3.50934     3.90283    -2.47389    -6.13719
2021.2     6.23687     5.29399    10.52951     4.97229
2021.3     5.92544     7.33228     5.29154    -1.90134
2021.4     7.14249     8.31407     9.13613     0.75895
2022.1     8.25443     8.08598     2.68545    -4.99651
2022.2     8.87042     9.22578     7.04917    -1.99276

2022.3     4.66148     4.61951     5.25006     0.60271
2022.4     4.66012     4.46877     5.13891     0.64147
2023.1     4.48105     4.13881     4.85999     0.69252
2023.2     4.13145     3.82915     4.59840     0.74089
2023.3     3.91423     3.65477     4.46094     0.77774
2023.4     3.88025     3.58898     4.42290     0.80503
2024.1     3.93118     3.59764     4.45264     0.82531
2024.2     3.99394     3.65718     4.52833     0.84041
2024.3     4.07740     3.75336     4.63678     0.85147
2024.4     4.18682     3.87629     4.76887     0.85928
2025.1     4.32729     4.01604     4.91543     0.86466
2025.2     4.45958     4.16654     5.07084     0.86813
2025.3     4.59372     4.32477     5.23238     0.86999
2025.4     4.73534     4.48908     5.39856     0.87041
@                                                                             
@ Interest Rates and Money                                                    
@                                                                             
PRINTVAR FIXEDF LEVELS RS RB RM M1 PCM1 UBR;                                  
 
          RS          RB          RM          M1          PCM1        UBR     
         Level       Level       Level       Level       Level       Level  
2017.1     0.59000     3.96000     4.17333  3913.06800    21.42734  2156.87100
2017.2     0.89000     3.80000     3.98667  3990.54800     8.15848  1986.81400
2017.3     1.03667     3.65333     3.88667  4000.64200     1.01564  2077.73800
2017.4     1.20667     3.56000     3.92333  4043.57100     4.36179  1956.41200
2018.1     1.56000     3.74667     4.26883  4143.16400    10.22198  2114.58900
2018.2     1.84000     3.93667     4.54117  4103.08500    -3.81362  1894.22100
2018.3     2.04000     3.91000     4.57000  4113.00000     0.97010  1776.76300
2018.4     2.31667     4.12667     4.78000  4185.88200     7.27860  1563.43400
2019.1     2.38667     3.83000     4.36667  4146.91100    -3.67236  1588.31900
2019.2     2.30000     3.59333     4.00333  4245.30600     9.83409  1428.87800
2019.3     1.98000     3.10000     3.66667  4368.47800    12.12039  1434.68900
2019.4     1.57667     3.02667     3.70333  4456.56900     8.31334  1556.34800
2020.1     1.11000     2.91333     3.51333  5266.27400    94.98952  2405.19000
2020.2     0.14333     2.45667     3.23333  6004.46300    68.99851  2711.11300
2020.3     0.11333     2.23333     2.95000  6228.96200    15.81533  2684.15800
2020.4     0.09333     2.30333     2.76000  7403.41200    99.55607  2957.89900
2021.1     0.05000     2.73000     2.87667  7925.26100    31.31871  3638.87500
2021.2     0.02667     2.88333     3.00000  8337.21300    22.46988  3477.35100
2021.3     0.04667     2.55000     2.87000  8717.58500    19.53668  3850.13700
2021.4     0.05333     2.64667     3.08000  8956.72500    11.43258  3638.55000
2022.1     0.30667     3.20333     3.79333  9188.44000    10.75674  3596.14800
2022.2     1.07667     4.04333     5.24333  9121.08685    -2.90000  3596.14800

2022.3     3.00000     4.69711     5.74173  9232.36290     4.96998  3596.14800
2022.4     3.75000     4.97610     6.17735  9341.61328     4.81805  3596.14800
2023.1     4.25000     5.21697     6.47211  9447.80646     4.62523  3596.14800
2023.2     4.25000     5.32827     6.62491  9551.46181     4.46130  3596.14800
2023.3     4.25000     5.43797     6.71412  9654.43456     4.38257  3596.14800
2023.4     4.25000     5.53839     6.79268  9759.47888     4.42372  3596.14800
2024.1     4.25000     5.63044     6.86188  9867.96774     4.52120  3596.14800
2024.2     4.25000     5.71485     6.92283  9980.15996     4.62588  3596.14800
2024.3     4.25000     5.79227     6.97650 10096.48775     4.74451  3596.14800
2024.4     4.25000     5.86326     7.02378 10217.50450     4.88130  3596.14800
2025.1     4.25000     5.92836     7.06541 10343.88475     5.04015  3596.14800
2025.2     4.25000     5.98807     7.10208 10475.65382     5.19373  3596.14800
2025.3     4.25000     6.04283     7.13438 10613.02079     5.34926  3596.14800
2025.4     4.25000     6.09304     7.16283 10756.31125     5.51091  3596.14800
@                                                                             
@ Unemployment Rate and Unemployment                                          
@                                                                             
PRINTVAR FIXEDF LEVELS UR100 U;                                               
 
          UR100       U       
         Level       Level  
2017.1     4.57007     7.31511
2017.2     4.36133     6.99604
2017.3     4.31921     6.95196
2017.4     4.17605     6.71157
2018.1     4.03226     6.51001
2018.2     3.92576     6.35496
2018.3     3.78536     6.12959
2018.4     3.83545     6.24173
2019.1     3.82955     6.26278
2019.2     3.62919     5.92679
2019.3     3.60935     5.92873
2019.4     3.59927     5.93870
2020.1     3.80091     6.27267
2020.2    12.98325    20.66765
2020.3     8.81521    14.22971
2020.4     6.77668    10.96786
2021.1     6.20769    10.04375
2021.2     5.89759     9.57835
2021.3     5.09614     8.30368
2021.4     4.21860     6.89920
2022.1     3.80724     6.24500
2022.2     3.61523     5.93433

2022.3     3.57742     5.88509
2022.4     3.73801     6.16183
2023.1     4.02501     6.64679
2023.2     4.36502     7.21899
2023.3     4.67785     7.74591
2023.4     4.95278     8.20966
2024.1     5.19341     8.61612
2024.2     5.40390     8.97223
2024.3     5.58579     9.28062
2024.4     5.74014     9.54314
2025.1     5.87130     9.76714
2025.2     5.98179     9.95693
2025.3     6.07186    10.11301
2025.4     6.14093    10.23454
@                                                                             
@ Labor Force and Employment                                                  
@                                                                             
PRINTVAR FIXEDF PCHANGES L1 L2 L3 LM JF E;                                    
 
          L1          L2          L3          LM          JF          E       
        %Change     %Change     %Change     %Change     %Change     %Change 
2017.1     0.78036     0.79277     4.18986   -24.27608     1.75086     2.88999
2017.2    -0.15298     2.04139     0.85683    -2.96886     1.70820     1.73192
2017.3     0.86408     1.08733     2.10159   -13.01224     1.10938     1.55187
2017.4     0.84805    -1.06909    -1.51358    62.90302     2.20142     0.01736
2018.1     2.53625     0.40286     2.32222    -1.41007     2.55145     2.43239
2018.2     0.50245     0.64386     1.93958     2.86645     1.64194     1.50468
2018.3    -1.15378     2.06601    -0.21609     9.84033     1.21674     0.70631
2018.4     1.48801     1.63136     2.78534     1.16712     1.97465     1.78577
2019.1     2.36034     0.09154     3.13207   -23.77231     0.72296     1.98743
2019.2    -1.61230    -0.00855     0.01049    13.71788     0.72446     0.26860
2019.3     0.42531     1.80131     4.59728    -7.70309     2.22933     2.41468
2019.4     1.05727     3.57970     1.04737   -21.19777     0.60784     1.83173
2020.1     0.35217    -0.25969     0.10198   -37.98211    -3.15559    -0.74712
2020.2    -8.31453   -11.36440   -19.32017   190.10925   -40.22595   -41.74245
2020.3     2.75201     2.82010    11.04557   -41.12442    26.06642    27.19058
2020.4    -0.35915    -0.54162     3.71897   -67.64162     6.69866    10.29953
2021.1     0.86346     1.54930    -2.37637    60.47743     4.13952     2.31024
2021.2     1.86194     1.26436     1.40047    63.79221     4.87404     2.85427
2021.3     1.63304     1.29692     0.97866     4.56455     5.14386     4.75860
2021.4    -0.26327     1.37940     3.22750   -23.46770     4.58659     5.24595
2022.1     1.38221     2.62028    -0.15342    33.18774     4.42128     2.91683
2022.2     0.15312     1.52822    -0.58593    60.75620     3.33707     1.08474

2022.3     0.29058     0.52208     1.70188    14.69428     1.69349     1.02454
2022.4     0.28115     0.45941     1.60812    12.05164     0.62381     0.14905
2023.1     0.24763     0.33421     1.45475     8.95546    -0.19727    -0.47517
2023.2     0.20565     0.19544     1.27718     5.94819    -0.71067    -0.81428
2023.3     0.17174     0.09032     1.11512     3.50321    -0.82412    -0.80652
2023.4     0.14764     0.02056     0.97531     1.59589    -0.84241    -0.73194
2024.1     0.13214    -0.02036     0.85524     0.12537    -0.83547    -0.65267
2024.2     0.12362    -0.03899     0.75271    -0.99400    -0.81220    -0.57462
2024.3     0.12112    -0.03949     0.66672    -1.81834    -0.76475    -0.48896
2024.4     0.12389    -0.02506     0.59645    -2.39161    -0.69430    -0.39515
2025.1     0.13060    -0.00026     0.53942    -2.76937    -0.62202    -0.30994
2025.2     0.14046     0.03210     0.49426    -2.98903    -0.54339    -0.22733
2025.3     0.15308     0.07072     0.46058    -3.07028    -0.44991    -0.13849
2025.4     0.16832     0.11503     0.43834    -3.02536    -0.33876    -0.04016
@                                                                             
@ Profits and Productivity                                                    
@                                                                             
PRINTVAR FIXEDF LEVELS PCHANGES PIEF PROD100 ;                                
 
          PIEF        PIEF        PROD100     PROD100 
         Level      %Change      Level      %Change 
2017.1   326.98267    25.70276     6.99624   -99.00000
2017.2   326.23600    -0.91029     6.98882    -0.42325
2017.3   323.16300    -3.71492     7.05791     4.01335
2017.4   282.33500   -41.73975     7.07454     0.94588
2018.1   306.42700    38.75519     7.09454     1.13526
2018.2   318.37610    16.53429     7.11666     1.25300
2018.3   329.57100    14.82438     7.13960     1.29578
2018.4   329.11200    -0.55593     7.13219    -0.41474
2019.1   303.52000   -27.66069     7.19291     3.44944
2019.2   304.96700     1.92064     7.23976     2.63093
2019.3   290.09400   -18.12645     7.25678     0.94381
2019.4   309.29300    29.21870     7.28743     1.69997
2020.1   251.98172   -55.94494     7.26540    -1.20383
2020.2   227.58000   -33.46346     7.56868    17.77236
2020.3   376.22251   646.86608     7.61321     2.37417
2020.4   380.82496     4.98385     7.52636    -4.48542
2021.1   431.20900    64.38025     7.55272     1.40809
2021.2   507.95500    92.55274     7.60211     2.64151
2021.3   501.59500    -4.91504     7.51405    -4.55382
2021.4   494.73200    -5.36164     7.60004     4.65700
2022.1   531.95000    33.66055     7.46797    -6.77178
2022.2   531.68412    -0.19978     7.39592    -3.80364

2022.3   513.30509   -13.12645     7.41773     1.18446
2022.4   524.65108     9.13901     7.45566     2.06127
2023.1   541.75737    13.69387     7.49917     2.35459
2023.2   562.21872    15.98502     7.54989     2.73311
2023.3   588.82189    20.31356     7.61061     3.25614
2023.4   613.25094    17.65682     7.67143     3.23494
2024.1   633.59051    13.94145     7.73024     3.10208
2024.2   650.79398    11.31135     7.78699     2.96872
2024.3   667.64111    10.76388     7.84214     2.86332
2024.4   684.56577    10.53211     7.89586     2.76846
2025.1   701.38063    10.19309     7.94764     2.64914
2025.2   718.29027     9.99802     7.99783     2.55009
2025.3   735.85078    10.14355     8.04689     2.47639
2025.4   754.48110    10.51836     8.09507     2.41656
@                                                                             
@ Some other endogenous variables                                             
@                                                                             
PRINTVAR FIXEDF LEVELS CG SRZ100 SR SGP SSP;                                  
 
          CG          SRZ100      SR          SGP         SSP     
         Level       Level       Level       Level       Level  
2017.1  1445.40600     7.29548    91.69400  -171.00000   -60.90000
2017.2   838.14800     7.72298   110.52800  -177.00000   -67.97500
2017.3  1254.41400     7.73612    96.00800  -182.37500   -59.10000
2017.4  2042.85000     7.18971    90.63000  -190.35000   -42.82500
2018.1  -101.47400     7.74864    99.92300  -227.42500   -41.95000
2018.2   763.14200     7.71939    96.83800  -232.20000   -55.30000
2018.3  1313.37100     7.82184   122.35400  -225.35000   -50.00000
2018.4 -4261.54900     8.11277   125.86000  -243.10000   -50.05000
2019.1  4464.89800     8.83300   132.19400  -253.90000   -42.05000
2019.2  1293.14700     7.64150   127.49600  -258.27500   -31.95000
2019.3   213.35900     7.43242   120.18600  -270.22500   -38.05000
2019.4  2972.41800     7.58772   106.84600  -265.10000   -38.27500
2020.1 -7731.72500    10.00873   115.99800  -289.52500   -33.65000
2020.2  5928.35700    26.84605   132.98000 -1406.37500   138.30000
2020.3  3300.32700    16.45938   166.81200  -879.10000   -16.60000
2020.4  6862.20600    13.92270   177.11000  -535.02500   -12.07500
2021.1  2775.68700    20.94099   205.03100 -1022.22500    -3.22500
2021.2  3191.14600    11.14530   201.84700  -828.15000   207.12500
2021.3   938.85400     9.72933   212.64600  -558.87500    51.40000
2021.4  2945.93000     8.11490   215.34000  -374.52500    21.47500
2022.1 -3191.01300     5.74995   274.84100  -244.90000    37.52500
2022.2 -7116.00000     5.35666   249.82500  -246.74051    34.99030

2022.3   653.40438     7.44096   231.89557  -318.69007     8.94491
2022.4   665.71031     5.53389   218.79611  -239.14880     8.01717
2023.1   678.01409     5.53256   210.45159  -258.46762     6.48296
2023.2   690.00576     5.48986   205.25753  -278.52365     4.86733
2023.3   701.68466     5.49179   202.56882  -297.71814     3.28082
2023.4   713.25717     4.92870   201.59801  -284.63190     1.51873
2024.1   724.90751     5.00542   202.95166  -303.71720    -0.59030
2024.2   736.76477     5.08470   205.50572  -322.98728    -2.74982
2024.3   748.92365     5.16785   208.48066  -342.07329    -4.97820
2024.4   761.45929     5.25514   211.47162  -360.77235    -7.37702
2025.1   774.43351     5.34062   215.56515  -379.20743    -9.68479
2025.2   787.89375     5.42862   219.77249  -397.52297   -12.16486
2025.3   801.87717     5.51475   223.54002  -415.66869   -14.49314
2025.4   816.41762     5.60070   226.69539  -433.46191   -16.77640
@                                                                             
@ Selected exogenous variables                                                
@                                                                             
PRINTVAR FIXEDF PCHANGES COG COS EX TRGH PIM ;                                
 
          COG         COS         EX          TRGH        PIM     
        %Change     %Change     %Change     %Change     %Change 
2017.1    -4.21974    -0.05008     9.84439     6.39076     4.07591
2017.2     5.66070    -1.54408     1.61322     2.86591     0.67447
2017.3    -0.44668    -2.34302     2.71171     3.63200     0.60287
2017.4     7.09955     2.86354     9.71938     3.67951     4.87748
2018.1     2.81795     0.10052     1.80965     9.61117     6.47228
2018.2     6.67106     2.27940     4.99978     2.92335     1.64374
2018.3     4.47131    -2.13035    -6.11470     3.20924     0.61127
2018.4     4.12911    -5.45827     0.49519     3.52722    -2.49006
2019.1     4.86090     9.15938     3.12971    14.53717    -4.60255
2019.2     6.92677     4.81751    -2.15416     3.26858     2.76781
2019.3     4.20436    -1.76078    -0.85102     3.33275    -3.90023
2019.4     4.76544     0.39624     1.17332     3.41318    -2.10636
2020.1     2.37965    12.88165   -16.33142    10.61627    -1.24437
2020.2    28.07761    15.81487   -59.93023   511.87915   -11.95291
2020.3   -10.22913   -11.01821    54.54306   -72.66431     7.91759
2020.4    -2.87386     7.83184    22.50927   -21.98707     2.20197
2021.1    16.94907    -1.99241    -2.90850   904.69474    13.26198
2021.2    -7.63457    -3.79235     7.61463   -83.19677    13.42594
2021.3    -6.50519     0.56973    -5.30838    -3.85791     6.10451
2021.4    -5.54776    -3.08604    22.35798     4.94328     5.61987
2022.1    -8.95829    -2.55005    -4.81672    -5.84495    13.77834
2022.2    -4.21178    -4.48173    17.98841    -0.53519    12.50278

2022.3     3.00000     3.00000     5.00000   100.22019     9.00000
2022.4     3.00000     3.00000     5.00000   -33.61407     9.00000
2023.1     3.00000     3.00000     5.00000     7.49733     9.00000
2023.2     3.00000     3.00000     5.00000     7.11609     9.00000
2023.3     3.00000     3.00000     5.00000     6.94262     9.00000
2023.4     3.00000     3.00000     5.00000    -9.08687     9.00000
2024.1     3.00000     3.00000     5.00000     7.04122     9.00000
2024.2     3.00000     3.00000     5.00000     7.08275     9.00000
2024.3     3.00000     3.00000     5.00000     7.21806     9.00000
2024.4     3.00000     3.00000     5.00000     7.30725     9.00000
2025.1     3.00000     3.00000     5.00000     7.42870     9.00000
2025.2     3.00000     3.00000     5.00000     7.61285     9.00000
2025.3     3.00000     3.00000     5.00000     7.72740     9.00000
2025.4     3.00000     3.00000     5.00000     7.91993     9.00000
@                                                                             
@ Federal Government Budget                                                   
@                                                                             
PRINTVAR FIXEDF LEVELS THG TCG IBTG SIG TRFG DG;                              
 
          THG         TCG         IBTG        SIG         TRFG        DG      
         Level       Level       Level       Level       Level       Level  
2017.1   395.07500    58.32500    33.25000   315.62500    16.27500   -32.10000
2017.2   400.17500    60.40000    34.52500   318.77500    10.62500   -26.87500
2017.3   405.95000    63.85000    34.55000   322.55000    10.70000   -23.57500
2017.4   412.35000    62.82500    35.32500   327.22500    10.77500   -21.15000
2018.1   399.30000    47.30000    39.55000   332.12500    13.02500   -19.60000
2018.2   401.85000    52.57500    41.27500   334.50000    10.97500   -17.75000
2018.3   406.77500    53.32500    42.62500   338.47500    15.40000   -21.27500
2018.4   408.52500    55.62500    48.00000   340.35000     9.10000   -20.37500
2019.1   424.10000    52.80000    45.45000   348.10000     8.30000   -16.00000
2019.2   425.47500    54.72500    45.17500   349.82500     8.85000   -18.77500
2019.3   426.95000    51.62500    45.92500   351.72500    12.85000   -13.40000
2019.4   432.15000    57.85000    46.55000   356.60000     8.12500   -15.65000
2020.1   434.47500    41.67500    48.50000   364.27500     8.70000   -18.32500
2020.2   395.37500    41.85000    35.85000   347.90000     9.07500   -22.47500
2020.3   415.55000    52.92500    38.90000   360.95000    10.12500   -27.12500
2020.4   434.22500    56.27500    40.25000   371.50000    10.77500   -22.90000
2021.1   462.97500    61.60000    42.75000   379.47500     9.02500   -21.07500
2021.2   486.52500    68.77500    45.75000   388.92500     8.47500   -27.97500
2021.3   509.00000    71.47500    44.70000   398.60000     8.27500   -30.90000
2021.4   531.47500    70.30000    46.12500   409.75000     8.27500   -31.55000
2022.1   601.47500    70.20000    50.10000   420.45000     7.90000   -35.20000
2022.2   609.90000    70.18449    52.10000   427.70000    10.10000   -32.22500

2022.3   620.27909    69.95182    53.01798   434.31110    10.10000   -32.22500
2022.4   629.72856    71.47059    53.84970   439.89766    10.10000   -32.22500
2023.1   637.92136    73.32580    54.61829   444.22891    10.10000   -32.22500
2023.2   645.27790    75.35899    55.34917   447.84007    10.10000   -32.22500
2023.3   652.79980    77.74461    56.06341   451.60076    10.10000   -32.22500
2023.4   660.47071    80.01616    56.75271   455.47826    10.10000   -32.22500
2024.1   668.32678    82.07125    57.45098   459.46890    10.10000   -32.22500
2024.2   676.41636    83.96745    58.16687   463.62966    10.10000   -32.22500
2024.3   684.82680    85.86995    58.90753   468.04375    10.10000   -32.22500
2024.4   693.64122    87.80794    59.67919   472.77715    10.10000   -32.22500
2025.1   702.87315    89.77525    60.48433   477.83059    10.10000   -32.22500
2025.2   712.56077    91.78422    61.32761   483.23117    10.10000   -32.22500
2025.3   722.76578    93.86890    62.21295   489.02698    10.10000   -32.22500
2025.4   733.54997    96.05613    63.14381   495.26550    10.10000   -32.22500
PRINTVAR FIXEDF LEVELS PUG TRGH TRGR TRGS INTG IGZ;                           
 
          PUG         TRGH        TRGR        TRGS        INTG        IGZ     
         Level       Level       Level       Level       Level       Level  
2017.1   310.62500   504.30000     3.97500   140.82500   107.87500    68.25000
2017.2   314.40000   507.87500     8.67500   134.92500   110.50000    69.65000
2017.3   315.82500   512.42500     8.95000   140.75000   112.95000    69.95000
2017.4   321.92500   517.07500    11.60000   143.95000   115.60000    72.17500
2018.1   326.45000   529.07500     9.65000   145.67500   118.60000    72.75000
2018.2   332.92500   532.90000     9.62500   143.92500   124.27500    73.87500
2018.3   337.70000   537.12500     7.90000   145.67500   128.92500    75.45000
2018.4   341.92500   541.80000    11.30000   147.22500   133.55000    77.47500
2019.1   346.75000   560.50000    10.17500   148.45000   135.85000    77.87500
2019.2   351.72500   565.02500     9.32500   152.62500   137.97500    77.80000
2019.3   356.02500   569.67500     9.55000   152.60000   136.90000    79.75000
2019.4   360.42500   574.47500    10.77500   155.60000   135.05000    82.10000
2020.1   363.67500   589.15000    11.97500   160.15000   132.85000    82.50000
2020.2   381.25000   926.60000    14.95000   350.00000   129.55000    84.35000
2020.3   378.77500   670.00000    15.07500   184.62500   125.50000    86.42500
2020.4   378.07500   629.67500    11.82500   185.75000   122.85000    87.05000
2021.1   392.15000  1121.05000    14.42500   195.37500   120.50000    87.17500
2021.2   390.82500   717.75000    11.45000   408.05000   120.47500    88.80000
2021.3   390.50000   710.72500    18.27500   264.27500   122.75000    91.47500
2021.4   391.55000   719.35000    11.67500   226.05000   130.17500    92.65000
2022.1   391.72500   708.60000    14.25000   229.07500   134.65000    92.85000
2022.2   394.55000   707.65000    15.20000   234.20000   144.85000    93.85000

2022.3   401.84402   841.77395    15.20000   194.38324   154.00301    95.62915
2022.4   409.08423   759.82661    15.20000   198.15947   164.59172    97.44171
2023.1   416.14543   773.68453    15.20000   201.77964   176.32351    99.24614
2023.2   423.06008   787.09579    15.20000   205.41538   187.90284   100.99931
2023.3   429.94657   800.41515    15.20000   208.86187   199.55794   102.72980
2023.4   436.88327   781.57733    15.20000   212.47285   211.02270   104.48141
2024.1   443.94352   794.98642    15.20000   216.02449   222.48159   106.27590
2024.2   451.18131   808.70400    15.20000   219.79527   233.72956   108.11753
2024.3   458.63807   822.91803    15.20000   223.66419   244.63915   110.01313
2024.4   466.34639   837.55598    15.20000   227.64844   255.22343   111.97138
2025.1   474.33138   852.69540    15.20000   231.76911   265.50273   114.00288
2025.2   482.61351   868.48026    15.20000   236.02649   275.53949   116.10801
2025.3   491.20994   884.79263    15.20000   240.57107   285.38462   118.28996
2025.4   500.13682   901.81387    15.20000   245.12489   295.08042   120.55369
@                                                                             
@ State and Local Government Budget                                           
@                                                                             
PRINTVAR FIXEDF LEVELS THS TCS IBTS SIS TRGS DS;                              
 
          THS         TCS         IBTS        SIS         TRGS        DS      
         Level       Level       Level       Level       Level       Level  
2017.1   106.17500    13.82500   305.65000     4.95000   140.82500    -1.42500
2017.2   101.60000    13.40000   309.50000     4.92500   134.92500    -1.45000
2017.3   108.10000    13.57500   312.77500     4.95000   140.75000    -1.50000
2017.4   119.55000    13.77500   317.65000     5.00000   143.95000    -1.50000
2018.1   119.75000    13.90000   321.75000     5.05000   145.67500    -1.47500
2018.2   110.60000    15.07500   325.47500     5.10000   143.92500    -1.55000
2018.3   116.05000    15.42500   329.32500     5.12500   145.67500    -1.57500
2018.4   113.40000    16.07500   332.40000     5.12500   147.22500    -1.47500
2019.1   118.22500    18.30000   335.72500     5.15000   148.45000    -1.67500
2019.2   130.22500    18.20000   340.12500     5.12500   152.62500    -1.65000
2019.3   124.35000    18.27500   346.07500     5.07500   152.60000    -1.60000
2019.4   123.67500    18.10000   347.75000     5.05000   155.60000    -1.70000
2020.1   125.95000    16.62500   351.07500     5.02500   160.15000    -1.57500
2020.2   129.37500    15.47500   333.85000     4.77500   350.00000    -1.55000
2020.3   129.90000    19.20000   351.52500     4.97500   184.62500    -1.47500
2020.4   130.70000    19.70000   353.47500     5.12500   185.75000    -1.67500
2021.1   140.05000    21.37500   356.85000     5.30000   195.37500    -1.67500
2021.2   146.60000    22.97500   368.02500     5.47500   408.05000    -1.60000
2021.3   151.27500    23.82500   373.85000     5.62500   264.27500    -1.57500
2021.4   157.27500    28.85000   382.22500     5.70000   226.05000    -1.65000
2022.1   163.77500    43.90000   389.70000     5.72500   229.07500    -1.70000
2022.2   170.92500    43.89030   395.90000     5.67500   234.20000    -1.60000

2022.3   173.83375    43.57949   402.87561     5.69888   194.38324    -1.60000
2022.4   176.48197    44.35806   409.19569     5.72299   198.15947    -1.60000
2023.1   178.77801    45.35208   415.03611     5.74734   201.77964    -1.60000
2023.2   180.83969    46.47388   420.58996     5.77193   205.41538    -1.60000
2023.3   182.94771    47.82521   426.01733     5.79677   208.86187    -1.60000
2023.4   185.09748    49.10283   431.25523     5.82184   212.47285    -1.60000
2024.1   187.29916    50.23697   436.56132     5.84717   216.02449    -1.60000
2024.2   189.56627    51.26249   442.00122     5.87274   219.79527    -1.60000
2024.3   191.92330    52.28086   447.62942     5.89857   223.66419    -1.60000
2024.4   194.39355    53.30799   453.49313     5.92465   227.64844    -1.60000
2025.1   196.98081    54.33712   459.61129     5.95099   231.76911    -1.60000
2025.2   199.69577    55.37581   466.01923     5.97758   236.02649    -1.60000
2025.3   202.55573    56.44443   472.74676     6.00444   240.57107    -1.60000
2025.4   205.57801    57.55835   479.82020     6.03157   245.12489    -1.60000
PRINTVAR FIXEDF LEVELS PUS TRSH UB INTS SUBS ISZ;                             
 
          PUS         TRSH        UB          INTS        SUBS        ISZ     
         Level       Level       Level       Level       Level       Level  
2017.1   528.70000   156.45000     7.70000    55.50000     1.77500    95.97500
2017.2   530.15000   155.40000     7.52500    55.40000     2.07500    96.55000
2017.3   534.37500   158.97500     7.55000    54.77500     2.20000    96.75000
2017.4   543.05000   157.42500     7.42500    53.72500     2.17500    99.05000
2018.1   549.92500   158.92500     7.25000    52.10000     2.02500   100.00000
2018.2   558.15000   161.57500     6.90000    51.47500     2.05000   102.50000
2018.3   562.52500   162.25000     6.80000    51.87500     2.15000   101.65000
2018.4   562.42500   160.80000     6.77500    53.22500     2.32500    98.87500
2019.1   565.87500   162.90000     7.10000    55.77500     2.60000   103.32500
2019.2   574.00000   166.87500     6.95000    57.27500     2.82500   106.72500
2019.3   576.80000   168.95000     6.85000    57.77500     2.95000   106.00000
2019.4   582.30000   168.60000     6.70000    57.25000     2.95000   106.42500
2020.1   594.22500   165.70000     9.87500    55.80000     3.57500   110.65000
2020.2   583.65000   177.57500   259.85000    54.65000     4.87500   109.32500
2020.3   586.62500   187.07500   191.95000    54.02500     4.52500   109.15000
2020.4   593.25000   184.20000    74.97500    53.70000     4.47500   112.07500
2021.1   602.17500   188.82500   141.45000    53.97500     5.02500   110.55000
2021.2   613.15000   197.57500   120.10000    53.80000     5.52500   109.32500
2021.3   630.72500   209.37500    68.07500    53.20000     1.52500   110.57500
2021.4   641.67500   210.75000     9.42500    52.32500     2.70000   111.85000
2022.1   658.15000   212.82500     6.27500    51.17500     2.52500   112.90000
2022.2   679.42500   216.27500     5.00000    50.27500     2.95000   112.92500

2022.3   691.58659   201.27989     7.00000    50.27500     2.95000   114.21860
2022.4   703.69050   205.00592     7.00000    50.27500     2.95000   115.52664
2023.1   715.49355   208.83213     7.00000    50.27500     2.95000   116.79964
2023.2   727.03468   212.53961     7.00000    50.27500     2.95000   117.98777
2023.3   738.51610   216.18802     7.00000    50.27500     2.95000   119.12578
2023.4   750.08508   219.86905     7.00000    50.27500     2.95000   120.26493
2024.1   761.86637   223.62812     7.00000    50.27500     2.95000   121.42985
2024.2   773.95155   227.47371     7.00000    50.27500     2.95000   122.62456
2024.3   786.41133   231.41973     7.00000    50.27500     2.95000   123.85587
2024.4   799.30188   235.62383     7.00000    50.27500     2.95000   125.13240
2025.1   812.66590   239.82942     7.00000    50.27500     2.95000   126.46468
2025.2   826.53789   244.31815     7.00000    50.27500     2.95000   127.85165
2025.3   840.94742   248.95636     7.00000    50.27500     2.95000   129.29530
2025.4   855.92244   253.60773     7.00000    50.27500     2.95000   130.79949
@                                                                             
@ Financial Saving of the Six Sectors                                         
@                                                                             
PRINTVAR FIXEDF LEVELS SH SF SB SR SG SS;                                     
 
          SH          SF          SB          SR          SG          SS      
         Level       Level       Level       Level       Level       Level  
2017.1   189.40400    13.98400    -6.12400    91.69400  -184.08600   -76.74600
2017.2   200.97100     2.63600     0.49800   110.52800  -193.27300   -83.31000
2017.3   235.01000    23.61700   -49.39400    96.00800  -203.17900   -74.63700
2017.4   183.96200  -193.59000   -45.23900    90.63000    44.64700   -60.36100
2018.1   209.48500    27.62800    -2.24300    99.92300  -243.12400   -59.84300
2018.2   212.60100     7.33100     5.61900    96.83800  -248.17100   -74.34400
2018.3   224.98600   -17.23900    16.51800   122.35400  -241.26800   -65.52700
2018.4   247.59600   -13.55400    11.03800   125.86000  -259.83700   -62.55300
2019.1   270.24100   -55.15700    27.21500   132.19400  -267.90800   -59.40800
2019.2   226.81200   -38.89900    26.67300   127.49600  -274.70100   -50.60500
2019.3   219.16000   -40.86600    37.65300   120.18600  -288.04400   -55.13800
2019.4   226.09400     7.82600    22.84600   106.84600  -300.58000   -55.45800
2020.1   319.79900   -29.50300    26.46200   115.99800  -311.43100   -53.99900
2020.2  1149.72900    39.88200    21.98800   132.98000 -1431.15100   121.04700
2020.3   615.18600    85.34800     9.79200   166.81200  -903.08600   -32.80200
2020.4   481.19700    33.18400    22.15800   177.11000  -560.08900   -31.11100
2021.1   934.05100    73.67700    28.39600   205.03100 -1095.43200   -19.62400
2021.2   389.48200   129.38600    34.72400   201.84700  -853.35200   194.48800
2021.3   343.05500   126.80300    16.70400   212.64600  -584.37300    41.49100
2021.4   254.02400    41.62600    32.69500   215.34000  -401.09800    10.23800
2022.1   145.89500   -80.64400    27.78400   274.84100  -188.84900    28.60000
2022.2   147.64829   -51.56650    26.17385   249.82500  -195.86296    31.38330

2022.3   261.12070   -48.42587    25.64813   231.89557  -268.18068     5.54314
2022.4   188.54018   -40.69763    25.14959   218.79611  -189.01782     4.83058
2023.1   206.78229   -29.09408    24.65208   210.45159  -208.72165     3.53077
2023.2   220.23239   -14.99807    24.09708   205.25753  -229.16525     2.17731
2023.3   233.24073    -3.82305    23.49303   202.56882  -248.75230     0.87377
2023.4   218.81889     0.97037    22.87535   201.59801  -236.06777    -0.59385
2024.1   234.26092     6.10354    22.25200   202.95166  -255.56625    -2.40087
2024.2   248.42278    11.57053    21.61481   205.50572  -275.26173    -4.25111
2024.3   262.06663    17.04245    20.96116   208.48066  -294.78636    -6.16354
2024.4   275.50766    22.50861    20.29220   211.47162  -313.93857    -8.24052
2025.1   288.08109    27.40666    19.61240   215.56515  -332.84283   -10.22148
2025.2   300.51838    32.40720    18.91586   219.77249  -351.64411   -12.36881
2025.3   312.80509    37.70631    18.20046   223.54002  -370.29296   -14.35792
2025.4   325.03669    43.30576    17.46616   226.69539  -388.60772   -16.29527
PRINTVAR FIXEDF LEVELS GDPR GDPD PCGDPR;                                      
 
          GDPR        GDPD        PCGDPR  
         Level       Level       Level  
2017.1  4474.15000     1.06979     1.89969
2017.2  4499.22500     1.07368     2.26068
2017.3  4531.57500     1.07902     2.90722
2017.4  4574.15000     1.08670     3.81137
2018.1  4609.07500     1.09262     3.08928
2018.2  4647.50000     1.10160     3.37666
2018.3  4669.90000     1.10597     1.94190
2018.4  4680.35000     1.11174     0.89810
2019.1  4708.30000     1.11513     2.41019
2019.2  4745.65000     1.12151     3.21108
2019.3  4778.20000     1.12516     2.77192
2019.4  4800.57500     1.12979     1.88629
2020.1  4738.00000     1.13261    -5.11290
2020.2  4314.55000     1.12860   -31.23589
2020.3  4640.20000     1.13958    33.78418
2020.4  4691.95000     1.14658     4.53620
2021.1  4763.92500     1.15651     6.27868
2021.2  4842.07500     1.17414     6.72505
2021.3  4869.75000     1.19115     2.30589
2021.4  4951.57500     1.21188     6.89239
2022.1  4932.00000     1.23615    -1.57196
2022.2  4920.40000     1.26269    -0.93748

2022.3  4950.96621     1.27716     2.50811
2022.4  4979.05612     1.29178     2.28884
2023.1  4999.67463     1.30602     1.66674
2023.2  5019.20277     1.31930     1.57153
2023.3  5046.27927     1.33203     2.17536
2023.4  5073.77359     1.34476     2.19725
2024.1  5100.22569     1.35779     2.10176
2024.2  5125.78770     1.37115     2.01990
2024.3  5151.19806     1.38492     1.99774
2024.4  5176.89916     1.39919     2.01072
2025.1  5202.42525     1.41409     1.98694
2025.2  5228.12290     1.42960     1.99051
2025.3  5254.57181     1.44574     2.03900
2025.4  5282.21586     1.46256     2.12105