debt

In 2024, Romania will break the 50% government debt limit, becoming the EU country with the largest increase in the debt-to-GDP ratio since the start of the pandemic. High budget deficits - levels of 6-9% of GDP - have pushed Romania\'s debt from 35% in 2019 to 52% in 2024, with a forecast of close to 60% in 2026. In just a few years, Romania will likely have a higher debt than Germany.

At the outset of 2024, many economic projections assumed the war in Ukraine would conclude within the year. However, reality defied expectations. The war persisted, bringing new challenges, including territorial losses, large-scale infrastructure destruction, and sustained Russian attacks on Ukraine’s energy grid. The Government faced the pressing need to secure funding for the war effort and mobilize additional defense forces.

In response to Russia\'s invasion of Ukraine, the Polish Law and Justice government began to work on creating two new funds in the state-owned Bank Gospodarstwa Krajowego to finance \"systemic aid\" and additional military spending.

The 20th century could be referred to as the century of inflation. Monstrous inflation took place in many countries, such as hyperinflation in Germany in the 1920s, in Hungary after World War II, or in Zimbabwe and Venezuela in the recent past.

The European Commission has proposed to make EUR 750 billion available as a joint fund to be borne by the EU for the recovery of Member States whose economies have been severely damaged by the COVID-19 crisis.

Some people claim that the main reason why gold became money was that women liked it. Others claim that it is the faith that makes us use a certain good as money. By that logic, even water could become money just by virtue of us having faith in it.

Ukraine needs at the very least 5% annual GDP growth to catch up with neighboring countries in economic development. One option would be improved investment climate for higher FDI and domestic-sourced capital investment. Other options are limited given lack of fiscal space and aging capital assets.

Although Greece’s drama has left no people indifferent, neither those who stick to a tough position on Greece (Lithuanian government, for starters), nor newly declared Greece’s friends (European nationalists and socialists) would want the same scenario for their countries. However, becoming Greece is not so difficult. Here are a few guidelines.

The new Greek government of the leftist party SYRIZA wanted to take back austerity reforms in order to, for example, “gradually restore salaries and pensions so as to increase consumption and demand”. But it seems that the only thing accepted by the European Commission and eurozone finance ministers is 4-month extension of the bailout in return for presenting a list of reforms that Greece had committed to undertake.

2014 was the most difficult year for Ukrainian economy in the 21st century. Ukraine faced economic crisis and military conflict in the East, while Russia annexed Crimea. Real GDP is estimated to decline by near 7% in 2014 due to a drop in domestic demand and weak external demand.