National debt of the United States
Higher primary surplus in 2023
Last year's primary surplus in Greece proved significantly higher than the budget estimate for 1.1% of gross domestic product, reaching 1.9% of GDP and making it easier to meet this year's target of 2.1% of GDP.
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Sustainability of debt guaranteed till 2030
The sustainability of Greece's public debt is guaranteed at least until 2030, according to the Bank of Greece (BoG).
The evolution of public debt and gross financing needs in various adverse scenarios shows limited deviations from the basic scenario of the Bank of Greece until the beginning of 2030, as stated in its annual report.
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Important decade for Greek debt
The European Commission considers the period between 2025 and 2034 to be high-risk and critical for the sustainability of the Greek debt, after which, if it is overcome, in the long term and until 2070, Greece will be a low-risk country on this front.
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Three goals in public debt management
Reducing the ratio of debt-to-gross domestic product at the fastest rate in Europe, achieving higher positions in the rating agencies' scales and further reducing the cost of servicing the country's borrowing, are the three main objectives set by the financial staff for the crucial issue of managing the Greek debt.
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Private debt still a threat in Cyprus
The European Commission has reiterated warnings concerning the significant challenges posed to the Cypriot economy from private debt, as it has done before in regular post-program or post-memorandum reports.
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Bulgaria's Pension Increase: Christmas Bonuses Every Month in 2024
In response to a question regarding Christmas supplements for pensioners in December, Finance Minister Asen Vassilev revealed that pensions would be increased by approximately 11% in the coming year. This represents a shift from the traditional practice of providing Christmas supplements, with the government now prioritizing ongoing pension increases.
Cyprus debt rises in Q1 2023
Private debt in Cyprus (households and non-financial corporations) was 218% of GDP in Q1 2023, with debt in absolute numbers totaling €60.1 billion, the Central Bank of Cyprus said Tuesday.
Household debt at end-March was €20.2 billion, €200 million higher than at end-2022.
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Gov’t eyes revenue rise next year
The National Economy and Finance Ministry is preparing the draft budget for 2024 based on a number of pillars, with the aim of submitting it to Parliament in the first week of October. Its target will be an increase in state revenue.
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America’s wars and the US debt crisis
In the year 2000, the US government debt was $3.5 trillion, equal to 35% of the country's gross domestic product (GDP). By 2022, the debt was $24 trillion, equal to 95% of GDP. The US debt is soaring, hence America's current debt crisis. Yet both Republicans and Democrats are missing the solution: stopping America's wars of choice and slashing military outlays.
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Yellen warns of ‘chaos’ if US fails to raise debt ceiling
U.S. Treasury Secretary Janet Yellen has warned that unless Congress acts soon to raise the nation's debt ceiling, "financial and economic chaos would ensue."
Republicans have been pressing President Joe Biden to strike a deal to provide spending cuts in exchange for lifting the national borrowing limit.