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Macron faces political risks over French fiscal woes

Location:

FRANCE

The government is highly dependent on steady GDP growth to meet its pledges on deficit-reduction and tax cuts. It was forced to implement EUR10bn (USD10.7bn) in emergency cuts in…

Romanian fiscal and external deficits will remain wide

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ROMANIA

Romania is among the member states liable to the EDP. Although its debt is relatively low at 47.9% of GDP, Romania has wide budget and current account deficits, yet its tax-to-GDP…

Dilution of European green deal is likely

Location:

EU

Notably, she did not announce new or ongoing legislative efforts associated with the green deal. The speech was the first public sign that the Commission’s green agenda is…

Hungary will struggle to mend its fiscal woes

Location:

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…

Inflation could rise again in Russia in 2023

Location:

RUSSIA

Inflation has subsided owing to base effects. War, sanctions, geopolitical isolation and economic restructuring have already undermined population living standards, with poorer…

UK economy faces a shallow yet prolonged downturn

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UNITED KINGDOM

The IMF forecast assumes UK interest rates peak at 6.0% (from 5.25% currently), and linger at 4.0-4.25% through to 2028. The IMF’s forecasts are similar to those of the Bank of…

Brazil overseas assets tax would support fiscal goals

Location:

BRAZIL

The measures, presented by the government in August, envisage taxing “exclusive closed-end funds” belonging to individuals resident in Brazil (often just one investor or their…

Latvia’s unwieldy new government will be reform-averse

Location:

LATVIA

Latvia’s second female prime minister leads an ideologically diverse coalition led by her centrist New Unity (JV) party, and including the left-wing Progressives (PRO) and the…

South Africa may struggle to deliver a credible budget

Location:

SOUTH AFRICA

Facing major shortfalls in tax collections, the Treasury has therefore requested government departments to implement immediate spending cuts and has recommended far-reaching…