National debt of the United States

ΟΝΕΧ will distribute 1.8 million euros as financial support to workers at Elefsis Shipyards ahead of the Easter holidays, covering 30% of the previous ownership's debt to workers, Chairman and CEO Panos Xenocostas said in a letter.

The payment will be made on Friday and will vary from €600 to €7,000, depending on the previous debt.

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.

A trillion dollar coin could be created by the US Minister of Finance and deposited into the account of the US Central Bank to repay an equivalent share of US debt. In full impasse on the debt ceiling, the idea, considered far-fetched, is evoked by elected officials and on social networks.

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.

Turkey's current account balance posted a deficit of $683 million, down $1.3 billion from the same month last year, the Turkish Central Bank announced on Sept. 13.

With July figures, the current account deficit saw its eleven-month low.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled almost $27.8 billion.

The current account balance of payments deficit has increased by 2.74 billion euro in the first five months of this year, to 5.947 billion euro, from 3.207 billion euro in the January - May 2020 period, according to data of the National Bank of Romania sent on Wednesday to AGERPRES.

The current account of payment balance registered during Q1 of 2020 a deficit of 2.549 billion Euro, against 990 million Euro during the period of January - March 2020, according to the data published on Friday by the National Bank of Romania (BNR).

Last year closed with the general government debt at 338 billion euros and cash reserves at €31 billion. The Finance Ministry is now waiting for the final figures on the 2020 gross domestic product and the extent of the recession to establish how far above the 200% level the ratio of debt to GDP will rise.

The government will submit to Parliament in September a new payment schedule for debts to the state incurred during the coronavirus pandemic.

These new debts will be paid either in 12 interest-free installments in 2021 or 24 low-interest installments. The amount of unpaid taxes and previous debt settlements that froze during the period from March to May exceeds €2 billion.

The Institute for Economic Research at the Bulgarian Academy of Sciences proposes three scenarios for the macroeconomic consequences in Bulgaria of fighting COVID-19, the Academy reported.