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France faces spending cuts amid rising debt

Location:

FRANCE

The decision reflects doubts over Finance Minister Bruno Le Maire's four-year plan to “chill” state spending and reduce France's accumulated debt from 111.6% of GDP to 108.3% by…

Militarisation will cause rising distortions in Russia

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RUSSIA

Record levels of defence spending have led to surging demand for inputs used to manufacture military equipment, driving up output across various sectors. However, evidence of…

Moscow can afford the war in Ukraine

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RUSSIA

Hopes that sanctions and a sclerotic economy will hinder Russia’s war effort are likely to prove misplaced. Careful management of the budget and healthy oil revenues mean that the…

Iraq’s three-year budget will promote state capture

Location:

IRAQ

Parliament on June 12 approved a three-year budget mandating record high expenditure, including an increased public sector wage bill that accounts for a large proportion of…

Russia’s budget deficit may exceed official target

Location:

RUSSIA

The federal budget deficit target for 2023, set at RUB2.9tn (USD35.8bn), is likely to be exceeded for the second year in a row. Federal expenditure is showing no signs of slowing…

Israel will struggle to meet fiscal targets

Location:

ISRAEL

This follows a last-minute deal between Prime Minister Binyamin Netanyahu and ultra-Orthodox coalition partners allocating more religious education funding. Coalition bargaining…

EU fiscal reforms will reinforce regional divergence

Location:

EU

Though parameters have changed and national starting positions are recognised more, the reforms are not extensive. Debt and deficit targets remain. Indebted countries, principally…

Honduras frustrations over lack of reforms will mount

Location:

HONDURAS

Slow progress in enacting reforms is fostering frustration among those who had hoped that Castro would prompt substantial change when she came to power two years ago. Her tax…

New IGR will add to concerns about labour productivity

Location:

AUSTRALIA

The Labor government brought forward this IGR, which appears only two years after the 2021 edition rather than the usual five, suggesting that its multi-decade perspective would…

French government faces a difficult fiscal dilemma

Location:

FRANCE

As a result of dwindling tax revenue, he also said that state spending would be cut by EUR10bn (USD10.8bn). The government’s forecast for this year is more optimistic than…