Fiscal Policy
Fiscal Policy
Fiscal Policy
Bangladesh, Sri Lanka, and Nepal Were Already Fiscally Stretched. Cheaper Oil Is the Relief They Were Waiting For.
Fiscal Policy
China's PBOC Implements Targeted Liquidity Measures Rather Than Broad Stimulus
China's central bank took a measured policy approach this week, targeting specific liquidity bottlenecks rather than implementing broad economic stimulus. People's Bank of China Governor Pan Gongsheng announced a series of financial sector measures, including steps to increase the use of overnight reverse repo operations, narrow
Fiscal Policy
India's Capital Spending Just Hit an All Time High. The Fiscal Deficit Is Falling at the Same Time.
India's Union Budget for the 2026 to 2027 financial year set government capital expenditure on track to cross Rs12 lakh crore, equivalent to roughly $144 billion, marking a year on year increase of approximately 10%. As a share of GDP, that level of capital spending represents an all
Fiscal Policy
Pakistan Just Posted Its Smallest Budget Deficit in 21 Years. The New Budget Bets on Keeping It That Way.
Pakistan's Ministry of Finance reported that the country is on track to post its smallest budget deficit in 21 years for the fiscal year ending June 2026, with the deficit projected at 3.6% of GDP. The primary surplus, which excludes interest payments on debt, reached 3.2%
Fiscal Policy
Vietnam Is About to Enter the Emerging Market Index. But Building a Stock Market That Deserves the Title Is Harder Than Getting the Upgrade.
FTSE Russell's decision to upgrade Vietnam to secondary emerging market status effective September 21, 2026, is the most significant development in Vietnam's capital market history. The move will channel an estimated $6 billion from passive index trackers and up to $25 billion in total long-term
Fiscal Policy
France Has a €44 Billion Budget Plan. Whether It Can Actually Deliver Is Another Question Entirely.
The French government under Prime Minister Sébastien Lecornu entered 2026 with a budget package containing €44 billion in fiscal measures, equivalent to approximately 1.5% of GDP. The plan targets a public deficit of no more than 5.1% of GDP this year, a modest improvement from 5.4% in
Fiscal Policy
Trump's Tariffs Have Raised the Average US Household's Tax Bill by $1,500. Here Is What the Data Actually Shows.
The debate over whether American protectionism is working depends entirely on which number you look at and whose analysis you trust. In 2026, both sides of that argument have data. The Trump tariffs represent the largest US tax increase as a percentage of GDP since 1993 and amount to an
Fiscal Policy
Poland Has the Highest Fiscal Deficit in the EU This Year. Defence Spending Is the Reason. Here Is the Full Picture.
Poland is growing faster than almost any other country in Europe. It is also running the European Union's largest fiscal deficit as a share of GDP in 2026. Those two facts are not contradictions. They are directly connected. Fiscal consolidation is expected to advance in 2026, with the
Fiscal Policy
China Is Running a 3.8% Budget Deficit to Keep Its Economy Moving. Here Is What That Spending Is Actually For.
The conversation about China's fiscal policy in 2026 tends to get lost behind the louder story of the US-China trade deal. But the domestic fiscal picture deserves its own attention. China is spending deliberately, and the composition of that spending tells you more about where the economy
Fiscal Policy
Africa's Debt Problem Is Crowding Out the Spending That Would Actually Help People
The headline numbers for Sub-Saharan Africa in 2026 are not bad. Growth is projected at 4.1%, the median fiscal deficit has narrowed from 3.4% of GDP in 2024 to an estimated 3.0%, and median public debt improved from 57.2% of GDP to 53.1% between
Fiscal Policy
Brazil's Deficit Has Hit 9.41% of GDP. The Election Cycle Is About to Make It Harder
Brazil made a fiscal commitment. In 2023, the government of President Luiz Inácio Lula da Silva presented Congress with a medium-term fiscal framework that included a zero primary deficit target for 2026 and, eventually, a primary surplus of 1% of GDP before the end of Lula's term.