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Hungary will struggle to mend its fiscal woes

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HUNGARY

This is the lowest monthly widening since the start of 2023. Hungary aims to curb its 3.9% of GDP budget deficit in order to avoid being placed under the EU’s Excessive Deficit…

Italy’s budget for next year reflects fiscal caution

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ITALY

The government proposes a moderate increase in spending, largely funded by better-than-expected GDP growth. Rome has committed to the previous government's fiscal consolidation…

EU can become a trendsetter and bolster world GDP

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INTERNATIONAL

The global reach of Germany's fiscal scope.

Diamond sanctions will have a modest impact on Russia

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RUSSIA

The ban will be extended by the end of the year to include diamonds polished in third countries, lab-grown diamonds, as well as jewellery and watches containing diamonds. The new…

UK foreign ministry's power diminishes and disperses

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UNITED KINGDOM

Like the US State Department, the UK Foreign and Commonwealth Office (FCO) has experienced a long-term diminution of its budgets and standing as foreign policymaking is dispersed…

French government faces tough parliamentary hurdles

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FRANCE

The minority government faces significant opposition to its medium-term financial plans, next year’s deficit-reducing budget and immigration reforms.

EU green ambitions are strongly reflected in budget

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EU

Overall, some 30% of the budget will involve climate-related spending. One of the key reforms concerns the EU’s own resources mechanism to finance spending, with plans to…

Power could shift to national level in EU agriculture

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EU

The EU’s agricultural sector.

Spain’s budget majority promises political stability

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SPAIN

The minority Socialist Party (PSOE) - Unidas Podemos (UP) government needed the support of several left-wing and pro-independence parties to get the budget through. Its approval…

EU fiscal reforms will reinforce regional divergence

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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…