The ratio of federal debt to the US GDP by the end of 2018 will reach 78%, the maximum since 1950, The Washington Post writes referring to the forecast of the US Congressional Budget Office. It is expected that in 2028 the debt will increase to 96% of GDP and, ultimately, may exceed the historical maximum of 106% achieved in 1946. Currently, the debt of the federal budget is about 15 trillion dollars. According to the US Treasury, the deficit of the state budget in May increased by 66% in annual terms and reached the maximum since 2009, the value of 146 billion 800 million dollars. Revenues decreased by 9.7%, expenses increased by 10.7%. Over the 8 months of the current fiscal year, the budget deficit increased by 23%. Expenses grew by 5.9%, incomes - by 2.6%.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...