Fiscal deficit is a budget shortfall, where government spends more than what it earns through tax and other revenues in a year. In 2022, the federal government spent US$6.29 trillion, and collected US$4.87 trillion, resulting in deficit spending of US$1.42 trillion (refers Figure 1). Over the past 50 years, the Continue Reading

Although ongoing interest rate increases have been made to curb inflation, the effort appears to be in vain. This year, in most economies, food costs and the core inflation rate are higher and sticker than forecast. In the U.S., year-on-year, headline inflation expanded by 4.9% in April, and core inflation Continue Reading

Structural reforms in private consumption are necessary for a further rebound in the Chinese economy Overall, some economic international organizations forecast that China’s economy may rebound to around 4-5% in 2023, and even better next year. They noted, however, that the economic forecasts are subject to significant uncertainties both within Continue Reading