Fiscal policy

America's national debt on Tuesday hit another sobering milestone surpassing USD 30 trillion for the first time.

Total public debt outstanding is now above USD 30 trillion, according to Treasury Department data, reported CNN.

The national debt has skyrocketed in recent decades, driven up in part by the 2008 financial crisis and then the pandemic.

Ljubljana – The centre-left opposition is unanimous in saying the government measures to mitigate energy-price hikes are welcome but come several months too late and leave out several groups of population, as it has commented on a set of measures worth around EUR 200 million adopted on Saturday for households and companies.

Ljubljana – Responding the government’s recent decision to subsidise large companies due to rising energy prices, environmental NGOs Umanotera and Focus said on Monday that subsidies for large industrial consumers of energy are socially inequitable and “make a mockery of climate efforts”.

Ljubljana – The government has confirmed a EUR 200 million package of aid for households and companies to mitigate energy-price hikes. An EUR 106 million energy voucher scheme for households will be coupled with aid for companies and farmers worth EUR 70 million, lower network fees for electricity, and lower excise duties on heating oil and petrol.

The sector requests a non-return of the returnable advance payments, continued rent subsidies, a return of the suspended labor contracts measure

Turkey's current account balance posted a surplus of $1.65 billion in September, bringing the 12-month rolling deficit to $18.4 billion, the Turkish Central Bank revealed on Nov. 11.

In September 2020, the current account balance posted a $2.3 billion deficit.

The Minister of Environment and Energy, Kostas Skrekas, announced a new aid to households for the electricity bills, speaking on the MEGA weekend show.

He left open the possibility for aid measures extended to gas consumers.

The leaders of the world's largest economies today supported the imposition of a minimum tax rate on corporations, the Associated Press reported.

The agreement reached at the G20 summit in Rome aims to establish international tax rules so that multinational companies cannot avoid taxation by registering in offshore territories.

Ljubljana – The total debt of Slovenia’s 212 municipalities and their utilities increased by a further EUR 47.5 million last year to EUR 971.2 million, or 2.1% of GDP. Average total debt per capita thus increased to EUR 473 in 2020 from EUR 449 in 2019, a report compiled by the Finance Ministry shows.

The financial crisis and the pandemic have led to an increase in the public debt from about 15% of GDP in 2008 up to over 47% of GDP at the end of 2020, with a fiscal consolidation with an average annual deficit correction rate of approx. 1.5% of GDP to stabilize the debt at just over 50% of GDP by 2024, says the president of the Fiscal Council, Daniel Daianu.