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States 5% on social security. so the french have a very fat system. and it cannot be sustained. it runs huge deficits. the solution would have been to reduce those benefits, instead macron by increasing the retirement age just went for increasing revenue. in an unsustainable system that has benefits that are way too grave and the overall fiscal situation in france is a complete disaster. the government spending as a percent of gdp is one of the highest in the world. about 60%. that is it a percentage of gdp is about ii2%. so everyone knows that they have to cut back spending to solve and perfo...

Last Updated: China's Fiscal Situation 'extremely Severe With Risks', Says Ex-finance Minister Lou Jiwei Lou warned that China's economic growth and revenue will remain stagnant for next five years, with no spending cuts and fiscal situation is “extremely severe." China’s fiscal situation is “extremely severe with risks and challenges”, a former finance minister Lou Jiwei warned at a state pass conference. He held aggressive US stimulus policies, ageing Chinese population and mounting government debt, and slump in the economic growth due to the pandemic as the reason. Following...

When the state budget once walked a 'tightrope' Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công  16/02/2021    15:00 GMT+7 Vietnam has been making efforts in recent years to consolidate its fiscal situation to help create a wealthy financial system and a healthy macro economy. Before the end of the 13th National Assembly (NA) term five years ago, NA chair Nguyen Sinh Hung expressed his concern about the risks for the national financial system. Hung, who wa...

Surprising. all the way back in april, s&p had warned they had put the u.s. on watch, they were looking for a downgrade. in recent weeks, it seemed likelier they were going to do this. it wasn't entirely clear till yesterday when news leaked. >> okay. now this is just s&p's. we have moody's and fitch's which stayed with the aaa credit rating. >> exactly. >> what does that mean? are we only one-third worse off than we were before? >> the world investors are lending to the united states for historically cheap rates. for ten years, the u.s. can borrow money at 2.47% as of yesterday. the world's i...