This is especially worrying as revenues should have increased much more due to inflation.
The year-on-year increase in the financial deficit seen in the first half of 2023 is mainly due to a sharp increase in expenditure (+7.7%) and a comparatively small increase in revenue (+3.5%).
“In this book I will try to convince the reader that the lessons of history can be leaned upon to define a more demanding norm of justice and equality.” Read here
India still has many structural weaknesses which make it unlikely that it can catch-up with China in the near future. In ‘Foreign Policy’. Read the article HERE.
The ECB finds itself between Germany and a hard place. Read Here
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