Forecasts of Selected Variables: April 30, 2025
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@            Actual and Forecast Values for Selected Variables                
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@ Real GDP and its Endogenous Components                                      
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PRINTVAR FIXEDF LEVELS PCHANGES GDPR CS CN CD IHH IKF IM;                     
 
          GDPR        GDPR        CS          CS          CN          CN      
         Level      %Change      Level      %Change      Level      %Change 
2019.1  5107.92500     2.52343  2334.72500     0.42085   728.72500     3.53415
2019.2  5150.57500     3.38197  2345.30000     1.82412   736.97500     4.60594
2019.3  5210.82500     4.76183  2368.65000     4.04230   744.10000     3.92360
2019.4  5246.37500     2.75699  2387.55000     3.23010   744.77500     0.36335
2020.1  5173.32500    -5.45431  2334.85000    -8.54109   755.72500     6.01194
2020.2  4764.17500   -28.07634  2062.60000   -39.09904   730.97500   -12.47040
2020.3  5137.20000    35.19327  2227.70000    36.07137   782.07500    31.03385
2020.4  5192.95000     4.41206  2266.42500     7.13678   786.47500     2.26949
2021.1  5264.57500     5.63229  2296.15000     5.35026   807.17500    10.95097
2021.2  5347.25000     6.43113  2372.17500    13.91630   834.45000    14.21693
2021.3  5392.82500     3.45306  2431.82500    10.44406   835.20000     0.36000
2021.4  5490.12500     7.41468  2457.72500     4.32872   840.32500     2.47719
2022.1  5475.95000    -1.02877  2472.15000     2.36845   834.67500    -2.66243
2022.2  5479.82500     0.28336  2500.97500     4.74616   832.20000    -1.18083
2022.3  5516.70000     2.71898  2522.55000     3.49556   827.02500    -2.46428
2022.4  5562.37500     3.35312  2536.00000     2.14988   827.20000     0.08467
2023.1  5600.87500     2.79748  2559.52500     3.76252   832.30000     2.48905
2023.2  5634.85000     2.44857  2569.92500     1.63523   831.55000    -0.35996
2023.3  5695.25000     4.35704  2583.32500     2.10203   837.90000     3.08970
2023.4  5740.17500     3.19279  2605.87500     3.53761   845.42500     3.64100
2024.1  5763.40000     1.62827  2627.82500     3.41212   843.62500    -0.84893
2024.2  5805.97500     2.98776  2645.67500     2.74489   847.15000     1.68186
2024.3  5850.10000     3.07480  2664.17500     2.82649   856.72500     4.59827
2024.4  5885.60000     2.44949  2684.22500     3.04447   863.27500     3.09341
2025.1  5881.52500    -0.27666  2699.97500     2.36778   869.05000     2.70283

2025.2  5898.80822     1.18062  2716.25608     2.43394   871.45590     1.11198
2025.3  5938.98380     2.75228  2733.30418     2.53426   873.64257     1.00747
2025.4  5983.16438     3.00900  2751.14996     2.63729   876.15433     1.15499
2026.1  6025.55672     2.86437  2769.54261     2.70111   879.04392     1.32575
2026.2  6070.68665     3.02973  2788.27233     2.73266   882.26282     1.47279
2026.3  6116.32203     3.04101  2807.25272     2.75082   885.75599     1.59316
2026.4  6161.41906     2.98207  2826.44390     2.76268   889.47795     1.69143
2027.1  6205.86790     2.91700  2845.79679     2.76709   893.39008     1.77093
2027.2  6249.94945     2.87170  2865.26106     2.76406   897.45937     1.83444
2027.3  6293.91109     2.84339  2884.80466     2.75639   901.65925     1.88508
2027.4  6337.91370     2.82598  2904.41362     2.74678   905.96925     1.92578
 
          CD          CD          IHH         IHH         IKF         IKF     
         Level      %Change      Level      %Change      Level      %Change 
2019.1   376.35000    -3.50809   152.19456    -7.53528   591.91955     1.49322
2019.2   387.30000    12.15595   155.44283     8.81437   601.22650     6.43923
2019.3   396.42500     9.76254   158.05079     6.88185   605.85100     3.11239
2019.4   399.65000     3.29401   158.64430     1.51056   602.13723    -2.42949
2020.1   381.25000   -17.18288   163.82716    13.72232   591.96718    -6.58672
2020.2   379.70000    -1.61634   151.82168   -26.24498   546.06808   -27.59032
2020.3   452.00000   100.81278   172.54796    66.84151   566.44466    15.78246
2020.4   457.05000     4.54448   185.21938    32.77197   583.51096    12.60719
2021.1   489.00000    31.03297   189.48264     9.52972   597.53980     9.96925
2021.2   506.10000    14.73870   188.02736    -3.03690   612.04763    10.07116
2021.3   471.22500   -24.84326   186.81242    -2.55964   612.58052     0.34872
2021.4   481.05000     8.60444   187.46556     1.40584   622.52002     6.64993
2022.1   481.15000     0.08318   185.08606    -4.98136   642.67090    13.59030
2022.2   478.55000    -2.14403   179.15136   -12.22202   658.11337     9.96344
2022.3   476.27500    -1.88806   165.98911   -26.30501   672.82880     9.24849
2022.4   473.85000    -2.02114   155.11091   -23.74804   683.44696     6.46356
2023.1   492.95000    17.12455   152.59829    -6.32380   688.82303     3.18377
2023.2   492.55000    -0.32418   153.78009     3.13398   707.07035    11.02476
2023.3   497.62500     4.18555   156.39284     6.97123   709.66660     1.47685
2023.4   501.12500     2.84318   157.26519     2.24994   717.31376     4.38045
2024.1   498.92500    -1.74452   163.69974    17.39823   723.21562     3.33193
2024.2   505.57500     5.43900   162.36981    -3.21031   731.66061     4.75325
2024.3   514.95000     7.62617   160.64147    -4.19027   738.23016     3.64025
2024.4   530.17500    12.36129   163.94632     8.48657   731.50328    -3.59536
2025.1   525.60000    -3.40727   164.46052     1.26046   748.80994     9.80479

2025.2   528.84606     2.49334   165.56503     2.71357   754.17791     2.89845
2025.3   532.39708     2.71304   167.25542     4.14690   756.42875     1.19915
2025.4   536.37367     3.02132   169.33246     5.06065   756.31756    -0.05878
2026.1   540.77016     3.31921   171.87278     6.13718   757.02528     0.37482
2026.2   545.55472     3.58632   174.70272     6.75058   762.84088     3.10846
2026.3   550.70446     3.82958   177.59831     6.79641   769.82459     3.71254
2026.4   556.20451     4.05516   180.47722     6.64347   777.10636     3.83762
2027.1   562.03878     4.26225   183.35334     6.52847   784.42956     3.82309
2027.2   568.18932     4.44968   186.24471     6.45852   791.85649     3.84130
2027.3   574.64039     4.61942   189.15404     6.39636   799.27967     3.80282
2027.4   581.37997     4.77452   192.08416     6.34173   806.66672     3.74842
 
          IM          IM      
         Level      %Change 
2019.1   773.57500    -0.24524
2019.2   777.85000     2.22891
2019.3   774.47500    -1.72429
2019.4   759.95000    -7.29344
2020.1   732.42500   -13.71952
2020.2   607.22500   -52.75608
2020.3   708.87500    85.72915
2020.4   760.25000    32.29611
2021.1   775.55000     8.29627
2021.2   791.17500     8.30563
2021.3   807.55000     8.53941
2021.4   846.57500    20.77695
2022.1   873.57500    13.38067
2022.2   886.25000     5.93128
2022.3   873.92500    -5.44780
2022.4   863.87500    -4.52120
2023.1   862.12500    -0.80784
2023.2   855.32500    -3.11786
2023.3   865.10000     4.65033
2023.4   874.07500     4.21484
2024.1   887.20000     6.14299
2024.2   903.50000     7.55398
2024.3   926.85000    10.74527
2024.4   922.47500    -1.87479
2025.1  1005.77500    41.31391

2025.2   994.83436    -4.28065
2025.3   987.43468    -2.94221
2025.4   983.01102    -1.77998
2026.1   980.75529    -0.91473
2026.2   980.36219    -0.16023
2026.3   981.45661     0.44728
2026.4   983.68419     0.91096
2027.1   986.76358     1.25808
2027.2   990.49496     1.52117
2027.3   994.73872     1.72484
2027.4   999.39551     1.88576
PRINTVAR FIXEDF LEVELS IVF;                                                   
 
          IVF     
         Level  
2019.1    28.57500
2019.2    20.62500
2019.3    16.87500
2019.4     6.32500
2020.1   -10.75000
2020.2   -65.62500
2020.3    26.87500
2020.4    19.87500
2021.1    -5.50000
2021.2   -35.25000
2021.3     2.37500
2021.4    50.02500
2022.1    48.95000
2022.2    21.67500
2022.3    14.70000
2022.4    33.77500
2023.1     5.15000
2023.2    -0.05000
2023.3    16.80000
2023.4    11.15000
2024.1     4.42500
2024.2    17.92500
2024.3    14.47500
2024.4     2.22500
2025.1    35.02500

2025.2     5.67419
2025.3     4.38672
2025.4    10.45841
2026.1    14.23380
2026.2    16.10785
2026.3    17.80101
2026.4    18.96739
2027.1    19.56193
2027.2    19.68630
2027.3    19.62698
2027.4    19.52118
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@ Prices and Wages                                                            
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PRINTVAR FIXEDF PCHANGES GDPD PF WF WR ;                                      
 
          GDPD        PF          WF          WR      
        %Change     %Change     %Change     %Change 
2019.1     1.20202     1.36383     8.42803     6.96915
2019.2     2.08535     2.63170     1.47313    -1.12886
2019.3     1.27905     0.81494     1.57584     0.75475
2019.4     1.25051     1.55745     6.82229     5.18410
2020.1     1.85852     0.55151    11.09321    10.48388
2020.2    -1.46897    -1.50257    35.18715    37.24941
2020.3     3.55016     3.10759    -4.91445    -7.78027
2020.4     2.74449     2.37904     3.39325     0.99064
2021.1     5.49405     5.67109    -0.22923    -5.58367
2021.2     6.00770     4.72349     8.78415     3.87750
2021.3     6.31843     7.12666     4.60072    -2.35791
2021.4     6.96476     7.85731     4.13655    -3.44971
2022.1     8.38258     8.43442    -1.11230    -8.80415
2022.2     9.38980     9.91221     2.50213    -6.74181
2022.3     4.58409     4.85470     8.52047     3.49605
2022.4     3.74312     4.09973     2.32744    -1.70250
2023.1     3.69293     4.44568     3.95435    -0.47042
2023.2     1.83153     2.69477     5.54530     2.77573
2023.3     3.20578     3.67485     5.21768     1.48815
2023.4     1.55269     1.90312     4.98658     3.02587
2024.1     3.02561     3.30054     8.25123     4.79251
2024.2     2.53950     2.52467     2.05770    -0.45547
2024.3     1.89411     1.66678     0.75920    -0.89270
2024.4     2.33115     1.89645     4.34299     2.40101
2025.1     3.77824     3.67274     3.08810    -0.56393

2025.2     1.30350     1.22818     3.42254     2.16775
2025.3     1.13406     0.95650     3.14750     2.17025
2025.4     1.39671     1.17728     3.35429     2.15169
2026.1     1.69260     1.47521     3.63605     2.12943
2026.2     1.97574     1.78733     3.93110     2.10612
2026.3     2.26639     2.08640     4.21282     2.08296
2026.4     2.52907     2.35615     4.46540     2.06069
2027.1     2.75704     2.59062     4.68313     2.03967
2027.2     2.95145     2.79181     4.86808     2.01989
2027.3     3.11912     2.96502     5.02554     2.00119
2027.4     3.26510     3.11597     5.16116     1.98339
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@ Interest Rates and Money                                                    
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PRINTVAR FIXEDF LEVELS RS RB RM M1 PCM1 ;                                     
 
          RS          RB          RM          M1          PCM1    
         Level       Level       Level       Level       Level  
2019.1     2.38667     3.83000     4.36667  4213.77300    -3.97935
2019.2     2.30000     3.59333     4.00333  4313.11200     9.76867
2019.3     1.98000     3.10000     3.66667  4437.19400    12.01359
2019.4     1.57667     3.02667     3.70333  4528.08700     8.44896
2020.1     1.11000     2.91333     3.51333  5362.09100    96.64263
2020.2     0.14333     2.45667     3.23333  6092.16900    66.62918
2020.3     0.11333     2.23333     2.95000  6316.55500    15.56687
2020.4     0.09333     2.30333     2.76000  7491.13400    97.81952
2021.1     0.05000     2.73000     2.87667  8011.45400    30.81427
2021.2     0.02667     2.88333     3.00000  8426.01600    22.36120
2021.3     0.04667     2.55000     2.87000  8804.20000    19.19842
2021.4     0.05333     2.64667     3.08000  9035.70300    10.94001
2022.1     0.30667     3.20333     3.79333  9285.19600    11.51069
2022.2     1.07667     4.04333     5.24333  9522.80000    10.63546
2022.3     2.66333     4.24000     5.58000  9608.67100     3.65605
2022.4     4.04000     4.81000     6.69000  9407.75000    -8.10545
2023.1     4.62667     4.52000     6.35667  9390.20500    -0.74390
2023.2     5.07333     4.59667     6.49333  9330.97100    -2.49945
2023.3     5.29000     4.91333     7.03667  9172.14100    -6.63684
2023.4     5.28333     5.21000     7.29333  9162.91700    -0.40166
2024.1     5.23333     4.97000     6.74667  9490.77200    15.09889
2024.2     5.24333     5.22000     6.99000  9426.59800    -2.67738
2024.3     4.99000     4.89000     6.51000  9568.24500     6.14736
2024.4     4.40000     5.09667     6.65333  9720.37900     6.51325
2025.1     4.21000     5.35667     6.81667  9818.51665     4.10000

2025.2     4.35325     5.54175     6.92668  9843.44971     1.01963
2025.3     4.40580     5.65895     7.02519  9864.88732     0.87399
2025.4     4.36766     5.73823     7.07681  9893.79407     1.17727
2026.1     4.35678     5.81814     7.12274  9930.89835     1.50856
2026.2     4.40246     5.90841     7.18571  9975.56363     1.81122
2026.3     4.46841     6.00034     7.25801 10027.71211     2.10750
2026.4     4.53073     6.08849     7.32933 10086.82160     2.37878
2027.1     4.58949     6.17350     7.39793 10152.22226     2.61884
2027.2     4.64836     6.25651     7.46515 10223.23726     2.82750
2027.3     4.70640     6.33730     7.53104 10299.34045     3.01107
2027.4     4.76187     6.41544     7.59490 10380.13619     3.17502
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@ Unemployment Rate and Unemployment                                          
@                                                                             
PRINTVAR FIXEDF LEVELS UR100 U;                                               
 
          UR100       U       
         Level       Level  
2019.1     3.85886     6.35478
2019.2     3.66019     6.02633
2019.3     3.62517     6.00787
2019.4     3.57608     5.95562
2020.1     3.84374     6.39703
2020.2    13.01104    20.91569
2020.3     8.82050    14.38658
2020.4     6.75832    11.06101
2021.1     6.25700    10.22359
2021.2     5.91962     9.72211
2021.3     5.10920     8.42573
2021.4     4.21938     6.99155
2022.1     3.84838     6.38726
2022.2     3.66371     6.09002
2022.3     3.56440     5.93914
2022.4     3.59820     6.00807
2023.1     3.51880     5.90341
2023.2     3.55776     5.98921
2023.3     3.68875     6.23721
2023.4     3.78708     6.41332
2024.1     3.81442     6.46639
2024.2     3.97910     6.76180
2024.3     4.18212     7.13334
2024.4     4.16662     7.10579
2025.1     4.10089     6.99467

2025.2     4.13000     7.05485
2025.3     4.16294     7.12224
2025.4     4.18075     7.16436
2026.1     4.20102     7.21126
2026.2     4.21239     7.24344
2026.3     4.21931     7.26851
2026.4     4.22900     7.29883
2027.1     4.24556     7.34145
2027.2     4.26950     7.39727
2027.3     4.29961     7.46415
2027.4     4.33418     7.53917
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@ Labor Force and Employment                                                  
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PRINTVAR FIXEDF PCHANGES L1 L2 L3 LM JF E;                                    
 
          L1          L2          L3          LM          JF          E       
        %Change     %Change     %Change     %Change     %Change     %Change 
2019.1     2.48708     0.25535     1.96622   -17.37607     0.83054     1.56008
2019.2    -1.49155    -0.24049     1.39443    12.92182     1.12406     0.73548
2019.3     0.67093     1.92928     5.08500   -32.48170     1.48350     2.77693
2019.4     1.54900     4.20397     0.56876   -26.44058     1.07483     2.16692
2020.1    -0.02306    -0.23741    -0.52622   -46.05806    -3.76008    -1.36257
2020.2    -8.54784   -11.55664   -18.11608   332.26996   -40.15179   -41.50615
2020.3     3.19091     2.85790    11.32491   -50.88707    26.68321    27.66077
2020.4     0.41188     0.34731     3.18019   -81.28416     7.05986    10.78973
2021.1     0.13968     1.35855    -2.98586    73.48827     2.86652     1.48050
2021.2     2.07028     1.10927     2.82965    89.13621     5.50906     3.52342
2021.3     1.97014     1.38142     1.58441    24.32141     6.17398     5.17325
2021.4     0.79879     2.32866     2.54753   -21.13111     5.74219     5.71935
2022.1     0.28992     2.50587    -0.57260    80.44292     4.49842     2.17548
2022.2     0.64858     1.28985    -0.09353    61.64973     3.18365     1.33472
2022.3     0.27421     1.84795     0.84545    63.00552     3.13601     1.35790
2022.4     0.69064    -0.86678     2.34284    34.50601     1.96404     0.67870
2023.1     1.22616     1.95949     2.41190    -2.89729     1.83060     2.20394
2023.2     1.60594     3.52171    -0.63055     0.26281     0.94069     1.18543
2023.3     1.70302     0.22764     3.10511     7.40905     1.26456     1.21886
2023.4    -0.09605     0.28664     1.54976    37.86507     1.36367     0.20517
2024.1     1.17278     3.31439    -2.58785    34.14870     1.49705     0.30287
2024.2     0.80594     2.15391     0.12921    14.62109     0.84295     0.27618
2024.3     1.92062     1.94541     0.70391    11.33035     1.03419     0.63918
2024.4    -1.23559    -1.36540     2.16760    11.07237     0.34030     0.00272
2025.1     1.03482     0.76114    -1.43601    24.98148     1.36792     0.32803

2025.2     0.38484     0.20943     1.11568    -0.54136     0.48233     0.47374
2025.3     0.40665     0.29061     1.10014    -0.57354     0.49180     0.48422
2025.4     0.42844     0.36695     1.09055    -0.52574     0.59308     0.57431
2026.1     0.44827     0.43211     1.08157    -0.49500     0.60913     0.58721
2026.2     0.46889     0.49536     1.07908    -0.42182     0.68168     0.64955
2026.3     0.48935     0.55428     1.08084    -0.33285     0.73506     0.69343
2026.4     0.50814     0.60486     1.08309    -0.26629     0.75104     0.70432
2027.1     0.52449     0.64549     1.08360    -0.24099     0.74091     0.69364
2027.2     0.53840     0.67700     1.08186    -0.25574     0.72115     0.67639
2027.3     0.55023     0.70119     1.07826    -0.30047     0.70124     0.66068
2027.4     0.56042     0.71993     1.07342    -0.36368     0.68506     0.64941
@                                                                             
@ Profits and Productivity                                                    
@                                                                             
PRINTVAR FIXEDF LEVELS PCHANGES PIEF PROD100 ;                                
 
          PIEF        PIEF        PROD100     PROD100 
         Level      %Change      Level      %Change 
2019.1   304.98200   -23.73970     7.59391   -99.00000
2019.2   305.95000     1.27564     7.62893     1.85730
2019.3   319.10100    18.33435     7.69455     3.48534
2019.4   337.41700    25.01300     7.75990     3.44072
2020.1   316.48500   -22.59934     7.74649    -0.68959
2020.2   304.61700   -14.17693     8.19771    25.41523
2020.3   478.62000   509.46227     8.26132     3.14055
2020.4   442.49000   -26.94491     8.18017    -3.87201
2021.1   528.90605   104.12693     8.23599     2.75757
2021.2   610.21400    77.17993     8.24215     0.29985
2021.3   594.41358    -9.96192     8.19034    -2.49077
2021.4   580.98900    -8.73237     8.22651     1.77784
2022.1   601.65300    15.00394     8.14321    -3.98908
2022.2   653.40300    39.10417     8.09606    -2.29612
2022.3   614.25600   -21.89603     8.10605     0.49477
2022.4   588.56900   -15.70692     8.16466     2.92352
2023.1   611.00000    16.13826     8.19102     1.29781
2023.2   629.03545    12.34032     8.23799     2.31366
2023.3   660.49300    21.55488     8.31210     3.64724
2023.4   688.50300    18.07297     8.37312     2.96897
2024.1   690.80100     1.34177     8.39906     1.24485
2024.2   715.77500    15.26416     8.44119     2.02138
2024.3   722.05200     3.55422     8.48647     2.16300
2024.4   798.79500    49.78470     8.52591     1.87193
2025.1   780.56591    -8.82055     8.47616    -2.31346

2025.2   779.39626    -0.59804     8.51029     1.62052
2025.3   808.37441    15.72228     8.56778     2.72945
2025.4   839.24867    16.17493     8.62658     2.77334
2026.1   871.54825    16.30626     8.68228     2.60823
2026.2   896.60447    12.00511     8.73878     2.62828
2026.3   921.61661    11.63428     8.79415     2.55892
2026.4   945.43395    10.74486     8.84813     2.47792
2027.1   968.31307    10.03692     8.90119     2.42020
2027.2   991.52602     9.93938     8.95386     2.38816
2027.3  1015.53189    10.04183     9.00646     2.37026
2027.4  1040.51897    10.21120     9.05909     2.35815
@                                                                             
@ Some other endogenous variables                                             
@                                                                             
PRINTVAR FIXEDF LEVELS CG SRZ100 SR SGP SSP;                                  
 
          CG          SRZ100      SR          SGP         SSP     
         Level       Level       Level       Level       Level  
2019.1  4875.27300     8.48112   118.67000  -258.92500   -50.17500
2019.2  1221.74800     7.55440   120.29700  -263.87500   -40.37500
2019.3   167.20100     7.09957   112.61200  -266.17500   -54.75000
2019.4  2497.96700     6.93390   102.53300  -254.82500   -62.00000
2020.1 -7698.63900     9.24384   100.59100  -268.07500   -65.50000
2020.2  5746.91900    25.14034   130.72600 -1337.47500    93.30000
2020.3  3406.05300    15.37589   164.70700  -840.75000   -48.85000
2020.4  6357.90300    12.37148   182.96300  -494.50000   -30.62500
2021.1  3108.07400    20.19758   202.62800 -1042.60000   -32.82500
2021.2  3733.54500    10.25976   216.24700  -839.87500   191.25000
2021.3   884.75400     8.47112   233.16000  -567.62500    48.80000
2021.4  2281.74800     6.40976   234.60300  -388.67500    37.57500
2022.1 -2365.65200     3.36464   286.35300  -224.35000    40.92500
2022.2 -8160.70000     2.19350   269.04200  -227.02500    38.22500
2022.3 -2368.28000     3.17876   233.73900  -263.12500    11.15000
2022.4  1669.57400     3.52119   232.57200  -305.85000    -9.15000
2023.1  2860.72500     4.85584   234.93800  -409.37500   -11.37500
2023.2  2604.84400     5.21077   230.59200  -414.90000   -17.57500
2023.3 -1811.37900     4.71564   230.23300  -419.32500   -23.25000
2023.4  4243.56500     4.65578   226.94800  -422.85000    -9.67500
2024.1  3814.98800     5.55175   245.16600  -436.47500   -13.57500
2024.2   506.47200     5.08644   267.05400  -447.92500   -23.42500
2024.3  4446.38000     4.24037   304.38600  -482.27500   -14.30000
2024.4    15.93000     3.78349   266.78100  -471.40000   -11.47500
2025.1 -2700.00000     4.09884   349.65000  -458.15295   -27.54603

2025.2   784.83850     4.11131   347.72083  -474.97719   -29.44971
2025.3   791.33024     4.26103   350.72830  -491.46380   -30.81753
2025.4   797.34253     4.44925   356.80379  -508.01765   -32.38430
2026.1   803.84074     4.62111   364.78423  -524.74752   -34.14939
2026.2   810.98774     4.79392   374.47696  -541.94411   -36.26658
2026.3   818.82545     4.96424   385.45508  -559.40271   -38.47115
2026.4   827.34533     5.12198   397.40683  -577.34675   -40.78076
2027.1   836.50550     5.26339   410.08204  -595.76572   -43.17599
2027.2   846.25103     5.38981   423.31318  -614.54680   -45.60784
2027.3   856.52947     5.50389   437.00994  -633.66999   -48.05238
2027.4   867.29772     5.60796   451.12125  -653.14811   -50.49575
@                                                                             
@ Selected exogenous variables                                                
@                                                                             
PRINTVAR FIXEDF PCHANGES COG COS EX TRGH PIM ;                                
 
          COG         COS         EX          TRGH        PIM     
        %Change     %Change     %Change     %Change     %Change 
2019.1     9.62298    17.20753     3.80516    15.25828    -4.60688
2019.2     0.04368    14.91553    -2.02087     3.66165     1.99441
2019.3     6.43733     7.27367     0.09750     2.99591    -4.20477
2019.4     2.86751     5.49828     2.45840     2.29531    -1.13558
2020.1     5.04415    16.83044   -16.05781    10.71017    -1.42101
2020.2    47.66547    25.68220   -61.28229   498.14097   -12.25168
2020.3   -19.30426   -13.03470    60.21872   -71.70824     8.57899
2020.4     1.95116     0.08339    26.76904   -19.19548     3.05163
2021.1    25.26524    -3.81945     0.32274   901.62795    12.01880
2021.2   -11.39759    -6.80422     3.22336   -82.41257    12.80231
2021.3   -10.00869    -4.13141     0.90846    -6.02929     5.94402
2021.4     5.40919    -3.92276    25.51138     1.20910     6.79120
2022.1   -11.73566    -1.26175    -4.62007     3.62068    13.47706
2022.2    -2.71253    -3.03468    12.66824     1.13957    11.62756
2022.3    -0.24689     0.70898    14.50112    -0.97795    -4.70741
2022.4    13.53672     1.59766    -1.13909     7.15413    -4.50115
2023.1     5.54124     2.17058     1.95821     1.28219    -1.56469
2023.2    -1.33253     6.48962    -4.79532     1.06198    -4.56552
2023.3     7.18101     7.60814     4.87039     3.61355     0.07117
2023.4     0.23326     9.17055     6.18239     2.25576    -0.00724
2024.1    -1.35179     2.88217     1.92022    14.68497     2.64378
2024.2     5.64700     3.57590     1.03048     5.45013     2.12739
2024.3    12.62101     4.33979     9.60483     5.11603    -0.20698
2024.4     4.89869     3.34120    -0.15153     5.61855    -0.32243
2025.1    -5.34366    -0.19943     1.78645    13.78036     2.12218

2025.2     1.00000     1.00000     3.00000     6.36867     6.00000
2025.3     1.00000     1.00000     3.00000     6.19076     6.00000
2025.4     1.00000     1.00000     3.00000     6.46654     6.00000
2026.1     1.00000     1.00000     3.00000     6.77723     6.00000
2026.2     1.00000     1.00000     3.00000     7.07453     6.00000
2026.3     1.00000     1.00000     3.00000     7.37971     6.00000
2026.4     1.00000     1.00000     3.00000     7.65553     6.00000
2027.1     1.00000     1.00000     3.00000     7.89490     6.00000
2027.2     1.00000     1.00000     3.00000     8.09903     6.00000
2027.3     1.00000     1.00000     3.00000     8.27507     6.00000
2027.4     1.00000     1.00000     3.00000     8.42835     6.00000
@                                                                             
@ Federal Government Budget                                                   
@                                                                             
PRINTVAR FIXEDF LEVELS THG TCG IBTG SIG TRFG DG;                              
 
          THG         TCG         IBTG        SIG         TRFG        DG      
         Level       Level       Level       Level       Level       Level  
2019.1   420.47500    49.35000    45.82500   349.00000     8.12500   -16.00000
2019.2   421.67500    51.40000    44.42500   350.87500     8.75000   -18.77500
2019.3   424.95000    51.72500    46.27500   352.57500    12.75000   -13.40000
2019.4   434.05000    57.97500    46.70000   357.05000     8.00000   -15.65000
2020.1   438.80000    47.87500    47.92500   363.30000     8.47500   -18.90000
2020.2   405.52500    49.90000    33.55000   345.92500     9.02500   -20.82500
2020.3   434.15000    64.65000    38.42500   358.25000    10.32500   -25.42500
2020.4   462.35000    62.80000    40.87500   367.55000    11.02500   -21.90000
2021.1   497.17500    72.47500    42.05000   371.80000     9.62500   -19.92500
2021.2   522.37500    85.97500    47.05000   380.62500     9.45000   -25.97500
2021.3   543.40000    86.12500    48.45000   389.75000     9.42500   -30.92500
2021.4   562.00000    89.47500    52.10000   400.87500     9.62500   -32.37500
2022.1   649.35000    94.90000    55.60000   410.72500     9.55000   -33.65000
2022.2   651.07500   104.27500    56.52500   416.47500    12.22500   -27.95000
2022.3   657.07500   100.55000    54.50000   428.30000     9.87500   -10.90000
2022.4   648.92500   101.72500    51.80000   432.47500    12.25000    -3.65000
2023.1   564.07500   108.57500    48.85000   440.30000    10.57500    -0.02500
2023.2   561.70000   107.35000    47.65000   447.47500    10.52500    -0.02500
2023.3   565.12500   112.97500    46.62500   454.50000    12.10000    -0.02500
2023.4   570.55000   116.20000    45.90000   459.05000    11.32500    -0.02500
2024.1   589.02500   114.97500    47.97500   466.02500    13.07500    -0.20000
2024.2   593.85000   123.35000    46.87500   467.35000    11.72500    -1.27500
2024.3   599.67500   123.27500    49.17500   469.10000    14.35000    -0.90000
2024.4   608.75000   128.02500    49.32500   474.22500    20.07500    -0.87500
2025.1   623.32500   126.32205    51.50000   481.45000    16.97500    -1.65000

2025.2   629.17433   126.38596    52.04182   484.96025    16.97500    -1.65000
2025.3   635.93280   129.24433    52.56617   488.90805    16.97500    -1.65000
2025.4   643.59708   132.31521    53.13561   493.54079    16.97500    -1.65000
2026.1   651.80680   135.55932    53.75790   498.56308    16.97500    -1.65000
2026.2   660.71463   138.16551    54.43269   504.17897    16.97500    -1.65000
2026.3   670.25057   140.80780    55.15797   510.29890    16.97500    -1.65000
2026.4   680.28441   143.37548    55.93082   516.80826    16.97500    -1.65000
2027.1   690.72844   145.88844    56.74741   523.63638    16.97500    -1.65000
2027.2   701.54120   148.46152    57.60402   530.75053    16.97500    -1.65000
2027.3   712.70365   151.13451    58.49767   538.13466    16.97500    -1.65000
2027.4   724.20679   153.92254    59.42631   545.77991    16.97500    -1.65000
PRINTVAR FIXEDF LEVELS PUG TRGH TRGR TRGS INTG IGZ;                           
 
          PUG         TRGH        TRGR        TRGS        INTG        IGZ     
         Level       Level       Level       Level       Level       Level  
2019.1   350.80000   561.95000    10.57500   147.80000   135.85000    83.52500
2019.2   352.00000   567.02500     9.57500   152.67500   137.32500    80.02500
2019.3   356.72500   571.22500     9.70000   152.20000   134.95000    83.40000
2019.4   359.97500   574.47500    11.07500   156.25000   131.20000    85.32500
2020.1   364.82500   589.27500    12.05000   158.75000   126.77500    87.27500
2020.2   391.92500   921.55000    15.82500   346.75000   123.07500    91.32500
2020.3   381.62500   672.10000    16.62500   183.72500   121.35000    92.65000
2020.4   384.65000   637.22500    12.52500   189.47500   123.62500    94.50000
2021.1   403.35000  1133.62500    15.50000   194.42500   127.82500    92.72500
2021.2   399.35000   734.12500    13.02500   410.20000   134.70000    93.95000
2021.3   396.25000   722.80000    19.17500   271.40000   142.00000    95.70000
2021.4   404.22500   724.97500    12.32500   234.07500   147.95000    98.02500
2022.1   401.62500   731.45000    14.80000   232.50000   154.15000    98.60000
2022.2   405.52500   733.52500    17.42500   237.85000   166.30000   101.40000
2022.3   410.35000   731.72500    27.32500   239.10000   182.92500   101.37500
2022.4   423.55000   744.47500    22.80000   238.85000   200.32500   106.82500
2023.1   432.90000   746.85000    22.90000   244.42500   209.87500   108.52500
2023.2   435.45000   748.82500    22.12500   241.97500   217.75000   110.55000
2023.3   445.22500   755.50000    22.15000   228.90000   234.30000   111.07500
2023.4   449.05000   759.72500    13.10000   235.35000   245.87500   112.30000
2024.1   452.57500   786.20000    14.52500   235.25000   255.10000   110.72500
2024.2   460.55000   796.70000    14.77500   237.27500   262.45000   113.95000
2024.3   473.35000   806.70000    29.65000   245.40000   267.30000   117.67500
2024.4   481.17500   817.80000    24.25000   245.27500   269.30000   119.45000
2025.1   481.32500   844.62500    14.40000   238.27500   265.67500   121.22500

2025.2   485.11955   857.76311    14.40000   239.04771   276.00436   122.52017
2025.3   488.63487   870.74110    14.40000   239.72258   290.66897   123.77738
2025.4   492.39505   884.48879    14.40000   240.55529   306.17080   125.12859
2026.1   496.49350   899.10828    14.40000   241.56680   321.72776   126.58673
2026.2   500.95563   914.60493    14.40000   242.75124   337.15002   128.15091
2026.3   505.77595   931.03090    14.40000   244.11513   352.69774   129.82677
2026.4   510.93210   948.35989    14.40000   245.64416   368.29348   131.60891
2027.1   516.39448   966.54794    14.40000   247.32006   383.86853   133.48963
2027.2   522.13456   985.55042    14.40000   249.12509   399.43021   135.46121
2027.3   528.12871  1005.33538    14.40000   251.04540   415.02384   137.51784
2027.4   534.35877  1025.88028    14.40000   253.07000   430.70470   139.65508
@                                                                             
@ 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  
2019.1   118.37500    17.95000   336.32500     5.20000   147.80000    -1.62500
2019.2   132.75000    19.20000   340.70000     5.20000   152.67500    -1.62500
2019.3   123.90000    18.52500   347.10000     5.15000   152.20000    -1.57500
2019.4   122.52500    17.57500   346.20000     5.12500   156.25000    -1.67500
2020.1   123.12500    16.12500   345.95000     5.07500   158.75000    -1.57500
2020.2   121.30000    16.60000   324.82500     4.82500   346.75000    -1.57500
2020.3   127.90000    20.37500   350.27500     4.97500   183.72500    -1.47500
2020.4   132.10000    20.60000   355.80000     5.15000   189.47500    -1.60000
2021.1   139.75000    20.77500   362.20000     5.32500   194.42500    -1.62500
2021.2   146.52500    23.42500   384.47500     5.50000   410.20000    -1.57500
2021.3   144.10000    29.82500   388.25000     5.65000   271.40000    -1.55000
2021.4   149.77500    42.02500   398.75000     5.77500   234.07500    -1.62500
2022.1   164.17500    42.70000   405.50000     5.85000   232.50000    -1.75000
2022.2   173.27500    39.40000   415.42500     5.77500   237.85000    -1.62500
2022.3   149.15000    39.77500   421.55000     5.67500   239.10000    -1.55000
2022.4   151.90000    40.55000   423.80000     5.45000   238.85000    -1.62500
2023.1   144.50000    39.67500   429.02500     5.20000   244.42500    -1.77500
2023.2   145.40000    40.60000   431.95000     5.12500   241.97500    -1.80000
2023.3   151.37500    41.47500   435.62500     5.30000   228.90000    -1.65000
2023.4   153.02500    41.72500   440.75000     5.70000   235.35000    -1.72500
2024.1   152.37500    42.60000   444.90000     6.25000   235.25000    -1.75000
2024.2   157.50000    41.00000   450.32500     6.67500   237.27500    -1.72500
2024.3   163.87500    40.65000   453.40000     6.87500   245.40000    -1.67500
2024.4   167.62500    41.05000   460.25000     6.90000   245.27500    -1.72500
2025.1   167.20000    40.50397   466.47500     6.75000   238.27500    -1.90000

2025.2   168.76902    40.46893   471.38271     6.78491   239.04771    -1.90000
2025.3   170.58190    41.33694   476.13208     6.82005   239.72258    -1.90000
2025.4   172.63776    42.26175   481.28998     6.85542   240.55529    -1.90000
2026.1   174.83993    43.22925   486.92649     6.89101   241.56680    -1.90000
2026.2   177.22935    43.97979   493.03859     6.92684   242.75124    -1.90000
2026.3   179.78726    44.72900   499.60804     6.96290   244.11513    -1.90000
2026.4   182.47873    45.44243   506.60830     6.99920   245.64416    -1.90000
2027.1   185.28022    46.12775   514.00486     7.03573   247.32006    -1.90000
2027.2   188.18063    46.82307   521.76378     7.07250   249.12509    -1.90000
2027.3   191.17483    47.54214   529.85828     7.10950   251.04540    -1.90000
2027.4   194.26042    48.29060   538.26970     7.14675   253.07000    -1.90000
PRINTVAR FIXEDF LEVELS PUS TRSH UB INTS SUBS ISZ;                             
 
          PUS         TRSH        UB          INTS        SUBS        ISZ     
         Level       Level       Level       Level       Level       Level  
2019.1   574.95000   164.17500     7.40000    55.95000     3.75000   107.50000
2019.2   588.30000   168.47500     6.82500    57.32500     4.07500   111.72500
2019.3   597.00000   170.77500     6.60000    57.60000     3.67500   111.80000
2019.4   606.27500   170.57500     6.67500    56.80000     2.60000   110.70000
2020.1   620.92500   167.60000    10.02500    54.95000     1.47500   114.47500
2020.2   614.55000   179.95000   237.87500    53.62500     1.80000   112.80000
2020.3   618.77500   189.27500   200.00000    53.10000     3.27500   112.15000
2020.4   622.35000   186.20000    80.67500    53.07500     2.30000   113.62500
2021.1   633.55000   192.85000   145.95000    53.70000     5.17500   112.87500
2021.2   643.15000   203.20000   110.20000    53.10000     7.52500   111.47500
2021.3   657.25000   205.05000    53.20000    51.20000     4.87500   111.07500
2021.4   666.35000   204.32500     7.95000    48.10000     3.70000   112.37500
2022.1   681.52500   216.25000     6.12500    43.67500     2.25000   116.07500
2022.2   703.87500   225.00000     5.42500    41.37500     2.50000   117.97500
2022.3   709.67500   230.15000     5.77500    41.20000     3.42500   121.10000
2022.4   717.65000   245.92500     6.47500    43.42500     5.22500   123.90000
2023.1   723.25000   242.45000     7.52500    48.25000     6.65000   127.42500
2023.2   726.02500   249.30000     8.17500    51.17500     7.62500   132.35000
2023.3   743.87500   238.67500     8.67500    52.65000     8.15000   138.27500
2023.4   754.75000   236.37500     8.82500    52.32500     8.17500   146.07500
2024.1   767.67500   249.25000     8.72500    50.37500     8.22500   149.50000
2024.2   775.22500   254.82500     8.72500    48.75000     8.22500   151.30000
2024.3   785.40000   258.77500     8.92500    47.32500     8.17500   154.15000
2024.4   793.75000   260.55000     9.02500    46.22500     8.17500   156.27500
2025.1   803.80000   265.72500     8.95000    45.35000     8.27500   155.92500

2025.2   810.29999   269.21352     9.00000    45.79649     8.27500   157.20701
2025.3   816.32638   272.63371     9.00000    47.08424     8.27500   158.43324
2025.4   822.78051   276.27644     9.00000    48.90015     8.27500   159.77260
2026.1   829.81986   280.17187     9.00000    51.05185     8.27500   161.24071
2026.2   837.48633   284.31978     9.00000    53.42173     8.27500   162.83545
2026.3   845.77014   288.73447     9.00000    55.93188     8.27500   164.56301
2026.4   854.63200   293.40583     9.00000    58.53134     8.27500   166.41560
2027.1   864.02035   298.31835     9.00000    61.18842     8.27500   168.38251
2027.2   873.88569   303.45649     9.00000    63.88391     8.27500   170.45319
2027.3   884.18705   308.80872     9.00000    66.60631     8.27500   172.61955
2027.4   894.89302   314.36652     9.00000    69.34896     8.27500   174.87527
@                                                                             
@ 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  
2019.1   249.41700   -34.40300    38.46500   118.67000  -278.63300   -69.94000
2019.2   212.87400   -23.23700    26.73200   120.29700  -282.54200   -62.59900
2019.3   194.95500   -12.78000    28.15100   112.61200  -288.10800   -76.02800
2019.4   190.89600    28.98700    16.92800   102.53300  -294.21400   -81.43000
2020.1   280.84100     0.55100     9.00500   100.59100  -296.86800   -87.34600
2020.2  1049.73400    77.50600    -2.14300   130.72600 -1368.03500    74.56200
2020.3   560.05200    98.44600     5.29800   164.70700  -869.48200   -65.99600
2020.4   408.75800    -0.71000     8.12800   182.96300  -524.97300   -49.26600
2021.1   894.68800    47.94300    28.85900   202.62800 -1118.67500   -49.39200
2021.2   338.57100    91.46700    30.05800   216.24700  -863.78600   178.49300
2021.3   273.04200    43.37300     7.42700   233.16000  -592.91000    40.88200
2021.4   166.45900   -46.74800    24.89100   234.60300  -417.12300    28.49500
2022.1    23.16100  -195.49100    55.16700   286.35300  -167.53800    31.79800
2022.2   -22.10600   -67.60100    42.50900   269.04200  -341.11400   144.52100
2022.3    70.70600     4.78000     7.47700   233.73900  -292.96900    20.46800
2022.4    79.24200   -19.53300    27.71200   232.57200  -356.26700     3.07400
2023.1   147.87400    -9.79100    99.69100   234.93800  -502.73400   -21.42900
2023.2   234.68800    -4.24900    61.77500   230.59200  -550.21100   -30.21800
2023.3   196.75900     4.58500    64.88600   230.23300  -542.59300   -40.32000
2023.4   156.40100    29.71900    59.24600   226.94800  -493.07300   -34.34200
2024.1   200.43900   -10.60900    75.29400   245.16600  -502.87100   -40.19400
2024.2   178.81500   -15.07300    87.78100   267.05400  -518.13400   -50.69100
2024.3   145.27600    -2.01700    73.11900   304.38600  -560.37200   -41.84100
2024.4   123.44800    78.07300    71.20800   266.78100  -566.69000   -19.29400
2025.1   132.92620   -18.28742    68.82415   349.65000  -498.06690   -81.54603

2025.2   132.26575    19.60658    67.88729   347.72083  -515.08678   -83.99367
2025.3   138.39341    40.00862    66.92210   350.72830  -531.76307   -85.88936
2025.4   146.29454    55.84123    66.00389   356.80379  -548.52084   -88.02261
2026.1   152.68684    71.67121    65.12676   364.78423  -565.47089   -90.39815
2026.2   158.80879    76.90804    64.27942   374.47696  -582.90380   -93.16942
2026.3   164.84992    81.31897    63.46572   385.45508  -600.61570   -96.07399
2026.4   170.31363    85.95775    62.67829   397.40683  -618.82920   -99.12731
2027.1   174.90080    91.34785    61.90863   410.08204  -637.53259  -102.30673
2027.2   178.61159    97.49864    61.14856   423.31318  -656.61189  -105.56007
2027.3   181.56214   104.34329    60.39179   437.00994  -676.04620  -108.86096
2027.4   183.85705   111.83005    59.63300   451.12125  -695.84766  -112.19369