Fiscal Policy
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rnz.co.nzU.S. Interest Costs on Public Debt Reach Record $616 Billion in First Seven Months of FY2026
Net interest payments on U.S. public debt totaled $616 billion for the first seven months of fiscal year 2026. The figure is $37 billion higher than the same period last year.
nypost.comRonald Reagan Institute Report Examines Federal Waste Reduction Claims
A Ronald Reagan Institute analysis reviewed assertions about waste, fraud and abuse in federal programs. The study assessed the scale and documentation behind those assertions.
nationalpost.comBrazil Rolls Out Stimulus Measures as Economy Gains Speed
Brazil's government has introduced new stimulus measures. Officials say the economy is expanding even with some of the world's highest inflation-adjusted interest rates.
japantimes.co.jpJapan Prime Minister Says New Debt Will Not Affect Bond Market
The Japanese prime minister stated that planned new government debt will be offset by higher tax revenue and will have no impact on the bond market. The comments addressed concerns about fiscal expansion.
The Sydney Morning HeraldAustralian Federal Government Gross Debt Nears $1 Trillion
The federal government's gross debt is projected to reach $1 trillion in the coming months. Bond markets have shown limited reaction to the milestone, while net debt remains near pre-pandemic levels as a share of GDP.
Washington ExaminerU.S. Government Debt Reached $37.6 Trillion in Fiscal 2025
Total federal debt stood at $37.6 trillion in fiscal 2025, equal to 124 percent of GDP. Annual interest payments reached $970 billion that year.
espn.comEU Officials Call for Temporary Fiscal Support and Reduced Fossil Fuel Imports
European Union officials stated that fiscal support measures should remain temporary and targeted. They also said the bloc must further reduce its reliance on imported fossil fuels.
news24.comU.S. Treasury Projects $2 Trillion Federal Budget Deficit for Fiscal Year 2026
The Treasury Department and bond market participants project a federal budget deficit of about $2 trillion for fiscal year 2026. The figure exceeds the Congressional Budget Office estimate issued in February and the $1.8 trillion deficit recorded in the prior fiscal year.
The Sydney Morning HeraldAdvanced Economies Report Higher Debt Levels
Government debt across developed nations has increased sharply in recent years. Political changes in several countries have reduced support for fiscal restraint measures.
kff.orgState Budget Proposal Uses Reserves to Balance Current and Next Year
A revised state budget plan balances spending for the current fiscal year and the following year through reserves and other one-time measures. Legislative analysts said the approach leaves ongoing shortfalls of about $10 billion per year starting in 2026-27.
morningstaronline.co.ukAndy Burnham Commits to Existing UK Fiscal Rules
Greater Manchester Mayor Andy Burnham stated he will follow the government's current borrowing limits. UK 10-year gilt yields fell after the announcement.
nypost.comCalifornia Governor Proposes $349.9 Billion Budget for Next Fiscal Year
Governor Gavin Newsom presented a revised state budget of $349.9 billion last week. The Legislative Analyst's Office reviewed the plan and identified ongoing structural deficits despite higher revenues.
japantimes.co.jpJapan Considers Bond Market for New Spending to Offset Middle East Conflict Impact
Japan's Finance Minister stated the government is weighing bond issuance to fund new spending measures. The spending aims to counter economic effects from the Middle East conflict. No specific spending amount or timeline was announced.
vancouversun.comIMF Staff Advises UK Government to Maintain Deficit Reduction Path
IMF staff recommended that the UK government continue its deficit reduction efforts amid market pressures and implementation risks. The advice comes as the government faces economic challenges.
citizen.co.zaNigeria Government Explains Delay in Quarterly Budget Reports
The Federal Government stated that delays in releasing recent Quarterly Budget Implementation Reports followed the extension and re-enactment of the 2025 budget. Officials said fiscal years are defined by legislative provisions rather than the January-to-December calendar.
benzinga.comCyprus, Bulgaria and Spain Lead Eurozone Growth in First Quarter of 2026
The eurozone expanded 0.8 percent year-on-year in the first quarter of 2026 while Cyprus grew 3.0 percent, Bulgaria 2.9 percent and Spain 2.7 percent. Eurostat reported the wider European Union grew 1.0 percent annually, trailing the United States at 2.7 percent.
kff.orgU.S. Posts $215 Billion Federal Budget Deficit in Latest Monthly Report
The U.S. federal budget recorded a $215.0 billion balance, coming in slightly better than the $220 billion forecast but reversing from the prior month's deficit. The improvement reflects a shift from the previous balance of -$164.0 billion.
rte.ieAustralia Projects A$28.3 Billion Budget Deficit for 2025/26
The Australian government forecasts a A$28.3 billion budget deficit for the 2025/26 fiscal year, below an earlier estimate of A$36.8 billion. Officials project continued deficits in subsequent years along with GDP growth of 2.25 percent in 2025/26 and inflation starting at 5 perc…
finance.yahoo.comTreasury Raises Q2 2026 Borrowing Estimate to $189 Billion
The Treasury Department now expects to borrow $189 billion in the April-June 2026 quarter, $79 billion more than its February projection. The increase follows weaker-than-expected cash flow, new tax breaks and tariff refunds. Bond market analyst Mark Malek described the broader d…
BenzingaU.S. Borrowing Needs Projected Above $2 Trillion In Fiscal 2026
Officials project privately-held net marketable borrowing of roughly $2.04 trillion in fiscal 2026. The projection comes from primary dealers surveyed in Treasury documents released Wednesday. Borrowing needs are expected to remain above $2 trillion annually through fiscal 2028.
rferl.orgU.S. Treasury Sets $125 Billion Quarterly Refunding With Unchanged Coupon Sizes
The U.S. Treasury will auction $58 billion in 3-year notes on May 11, 2026, $42 billion in 10-year notes on May 12 and $25 billion in 30-year bonds on May 13. The sales will raise $41.7 billion in new cash while refunding $83.3 billion in maturing debt.
GB NewsUK 30-Year Gilt Yield Reaches Highest Level Since May 1998
Yields on UK 30-year government bonds surged to 5.79% on Tuesday, the highest since May 1998, driven by concerns over potential political instability ahead of Thursday's local elections. Reports of a plot to oust Prime Minister Keir Starmer added to market jitters, while rising i…
montrealgazette.comAuditor General Report Identifies Gaps in Monitoring Canada's New Fiscal Initiatives for First Nations
Canada's Auditor General released a report criticizing Indigenous Services Canada's implementation of long-term funding for First Nations. The report highlights failures in monitoring and assessing the program's impact on socio-economic gaps. The department agreed with recommenda…
riotimesonline.comFitch Ratings States Canada's Fiscal Deficits Held Steady by Growth-Driven Revenues
Fitch Ratings reported that Canada is relying on growth-driven revenues to maintain steady fiscal deficits. The nation's deficit trajectory remains unchanged in nominal terms from the November 2025 budget. This assessment highlights the baseline set by the prior budget for curren…
washingtonpost.comKenyan Senator Urges Focus on Completing Ongoing Projects and Pending Bills in 2026/2027 Budget
Narok Senator Ledama Ole Kina called for prioritizing completion of ongoing initiatives and settling pending bills over new projects in Kenya's upcoming budget. He criticized the Treasury's use of Article 223 for off-budget spending. The remarks follow the Cabinet's endorsement o…
en.globes.co.ilU.S. Public Debt Surpasses Annual GDP, First Time Since World War II
U.S. debt held by the public has surpassed the country's annual GDP, reaching $31.27 trillion against $31.22 trillion in GDP. The Committee for a Responsible Federal Budget announced the milestone based on recent Bureau of Economic Analysis data. Fitch Ratings warned of potential…
en.globes.co.ilU.S. Public Debt Hits $31.27 Trillion, 100.2% of GDP
U.S. debt held by the public reached $31.27 trillion as of March 31, surpassing the estimated nominal GDP of $31.22 trillion over the prior 12 months. The debt-to-GDP ratio hit 100.2%, according to the Committee for a Responsible Federal Budget. Policymakers and experts expressed…
Substrate placeholder — needs reviewS&P Downgrades Belgium's Credit Rating as Second Cut in a Week
S&P has downgraded Belgium's credit rating, marking the second such action by a credit assessor within a week. The move comes as Belgium maintains the euro area's largest budget deficits. @business reported the developments amid ongoing fiscal concerns in the region.
Substrate placeholder — needs reviewGreece's Public Debt Projected to Fall Below Italy's in 2026
Greece's public debt is projected to fall to about 137% of GDP in 2026, below Italy's expected 138.6%, according to senior officials and Italy's budget plan. This shift marks the end of Greece holding the euro zone's highest debt ratio for over two decades. Italy's debt is foreca…
Substrate placeholder — needs reviewUK Deficit Hits Lowest Level Since 2024, Following Labour's Implementation of Higher Wealth Taxes
Rachel Reeves has delivered the lowest deficit since the Labour government took power in 2024. Higher wealth taxes contributed to this achievement. The government had threatened a clampdown on Britain's affluent classes in 2024.
Substrate placeholder — needs reviewThailand Reshuffles State Spending to Cushion Oil Shock Impact While Keeping Deficit Target
Thailand is adjusting its state spending to mitigate the effects of an oil shock. The move maintains the existing deficit target. The reshuffle aims to provide economic cushioning without altering fiscal goals.
Substrate placeholder — needs reviewSouth Korea's Budget Ministry Plans Strategy for Structural Challenges Including AI and Demographics
South Korea's Ministry of Planning and Budget announced efforts to develop a comprehensive strategy addressing key structural challenges such as AI transformation and demographic changes. The ministry, newly established under President Lee Jae Myung's administration, aims to prom…
citizen.co.zaBrazil's Government Plans to Increase Foreign-Exchange-Linked Debt Share
Brazil's government intends to further expand its share of foreign-exchange-linked debt beyond this year's planned increase. Treasury Secretary Daniel Leal stated this in an interview. The move follows the government's expansion plans for the current year.
techjuice.pkUK Chancellor Signals Reluctance to Raise Taxes or Borrow for Military Spending Increase
The UK Chancellor indicated hesitation to increase taxes or government borrowing to fund accelerated military spending. This comes as the government evaluates options to speed up planned defense budget increases following the Iran war.
redir.folha.com.brGovernments Increase Emergency Spending on Energy Support Amid Debt Concerns
Several countries have implemented tax cuts and subsidies on energy to address high costs affecting households and businesses. These measures, taken in response to the war in the Middle East, have added to public debt levels. The International Monetary Fund has advised caution in…
Substrate placeholder — needs reviewUS Government Interest Payments Reach 18% of Revenue in Fiscal Year 2025
The US government allocated 18 cents of every dollar of revenue to interest expenses in Fiscal Year 2025, the highest level since the 1990s. This figure represents a tripling of interest expense as a percentage of revenue since 2015. Projections from the Congressional Budget Offi…
Substrate placeholder — needs reviewZambia's Cabinet Approves Revised 2026 Budget to Address Middle East Conflict Revenue Pressures
Zambia's cabinet has approved a revised budget for 2026. The revision addresses revenue pressures stemming from the conflict in the Middle East. This adjustment aims to manage fiscal impacts on the country's economy.
Abluher / Wikimedia (CC BY-SA 4.0)S&P Global Expects UK to Manage Short-Term Debt Rollover and Current Account Deficit
S&P Global Ratings has stated that the United Kingdom is expected to regularly roll over its stock of short-term external debt. The agency also anticipates the UK will fund its current account deficit. This assessment reflects S&P's view on the UK's external financial obligations…
SemaforHigh Debt-to-GDP Ratios Limit Economies' Response to Energy Shocks from Conflicts
Analysts have stated that most economies face constraints due to elevated debt-to-GDP ratios stemming from the COVID-19 pandemic. These ratios reduce governments' capacity to address energy price shocks caused by geopolitical conflicts. The situation affects fiscal policy options…
thehindu.comIMF's Georgieva Warns Countries on Unaffordable Measures to Address Price Increases
Kristalina Georgieva, managing director of the International Monetary Fund, stated that countries should avoid implementing unaffordable measures to mitigate rising prices. She emphasized the need for fiscal prudence amid global economic pressures. The remarks highlight ongoing c…
Substrate placeholder — needs reviewUS Monthly Interest Payments on National Debt Reach $88 Billion, Matching Defense and Education Spending
The United States spends $88 billion per month on interest for its national debt, an amount equivalent to its monthly expenditures on defense and education combined. This figure was highlighted by Maya MacGuineas, president of the Committee for a Responsible Federal Budget. She u…
MintyFresh201 / Wikimedia (CC0)Rising Fertilizer Costs Pose Fiscal Challenges for Governments Subsidizing Usage in Developing Asian Countries
A recent increase in fertilizer costs has not led to food security issues in many nations, including developing Asian countries. Instead, it creates fiscal pressures on governments that subsidize fertilizer consumption. This situation highlights the distinction between food produ…
Substrate placeholder — needs reviewS&P Global Ratings Lowers Credit Rating on New Orleans Amid Financial Challenges
S&P Global Ratings has reduced New Orleans' credit rating by one notch due to ongoing financial difficulties. The downgrade reflects the city's struggles with budget shortfalls and pension obligations. This action highlights broader fiscal pressures facing the municipality.
Substrate placeholder — needs reviewIMF Report Warns of Medium-Term Economic Risks from Defense Spending Booms
A report from the International Monetary Fund states that surges in defense spending could pose risks to economies in the medium term. These expenditures are primarily financed through increased budget deficits. The analysis highlights potential fiscal pressures from such financi…
Substrate placeholder — needs reviewIRS Reports Average Tax Refund of $3,521 as of March 27, Up $351 from Prior Year
The Internal Revenue Service reported that the average tax refund for individual filers reached $3,521 as of March 27, an increase of $351 from $3,170 at a similar point last year. This data covers 88.4 million returns out of an expected 164 million by the April 15 deadline.
Substrate placeholder — needs reviewUS Cities Face Challenges in Funding Worker Pensions and Public Benefits
Major US cities including New York and Chicago are encountering difficulties in sustaining increases to workers' pensions alongside expanded public benefits. Economist Allison Schrager, in an opinion piece, argues that such expansions are not financially viable. The analysis high…