Offbeat Growth, Public Expenditures, Reforms: How does the Government intend to restore finances in 5 years
Biden Should Learn from LBJ and Defuse the Iran Nuclear Crisis | Opinion
President Joe Biden will need to manage his foreign policy challenges with shrewd diplomacy, and take bold action to mitigate risks of war. He will need to quickly rejoin the fraying nuclear deal with Iran. Failing to seize the narrow opportunity available right now to defuse the looming crisis with Iran will only heighten the risk that a spiraling conflict subsumes Biden's presidency.LBJ is an informative comparison.
Return under the 3% public deficit bar in 2027. Next week, France must formally submit to the European Commission its budget program. The Ministry of Finance shared its projections at the High Public Finance Council. Once the crisis is past, the government is five years old to restore public finances. The objective is to pass the deficit below 3% in 2027, in accordance with the European pre-crisis budget rules. From the very admission of the ministry, this "ambitious but credible" plan will go through "significant efforts" but no austerity.
The GOP Needs A Pro-Growth Message and Pro-Growth Messengers | Opinion
Growth matters. The Republicans who followed Reagan into the White House either didn't get it or couldn't explain it.Sometimes this required some simplifications the media—which continually tried to prove Reagan a dunce—used to distort what he was saying. That's not to say he didn't get a few things wrong; every president does. On the big things, however, like the importance of economic growth and how to get it, he was very, very right.
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an overlooking economy. with thehealth crisis, the French economy was put to the test. The public deficit in 2020 amounted to the record rate of 9.2%, a figure which is the consequence of the means mobilized to put in place various support measures. In 2020, the country experienced a historical recession with a contraction of 8.2% of its GDP, while the public debt ratio was soaring to reach 115.7% of GDP. Expenditures should continue as long as the epidemic is still expected, in particular, they must fuel the solidarity fund, partial activity or to help hospitals.
Return of growth. The Ministry of Economy hopes to see the country reconnect with growth, with a return of the activity to its preliminary crisis by the end of 2022. According to the projections of the Ministry of Finance, growth could reach 4 % in 2022 and 5% this year. For this, the proper application of the recovery plan will be paramount: the ministry tables on a stabilization of growth at 1.4% per year from 2025.
Democrats Are Short on Votes and Long on Irony
The party’s signature election-reform bill faces long odds in Congress, in part because of the problems it seeks to address.The challenge of the bill is that, aside from advancing the vague concept of democratic reforms, it doesn’t present a single theory of how to reform the electoral system, but is instead a palimpsest of Democratic freak-outs, with more recent ones piled atop older ones. At the top are measures that would push back on the voter-suppression laws currently in consideration or newly enacted by states with Republican legislatures, the most acute worry among progressives today.
video: the debate on the impact of the explosion of the public deficits On the private expense [Jérôme Creel] (Dailymotion)
Limit the rise in public spending. But the government also puts and especially on a decline in public spending. These increased at a rate of 1.4% per year on average over the 2010 decade. The objective is to limit this increase to 0.7% per year. A control also strict is a huge challenge but its modalities remain fuzzy. Bercy evokes choices to be done at the level of public policies, without giving more detail. In fact, this strategy aims to avoid any resort to a tax increase. Bruno The Mayor hammeses that the austerity policies have been the main mistake in managing the 2008 economic crisis.
structural reforms. At the same time,seems to rely on the continuation of certain reforms put into sleep by the sanitary crisis. Thus, pension reform as well as unemployment insurance should find a place of choice in the government agenda.
Greece 2.0 seeks to transform the economy. Does it go far enough?
Plan unveiled by Greek PM Mitsotakis aims to make Greece greener and more efficient – and to crack down on tax cheats.Greece 2.0 aims to leverage 57 billion euros ($67bn) over six years to rebuild network industries, reform state services, attract investment and boost exports.
A rule listed in the law. To keep these objectives, Bercy pleads for the establishment of a five-year multiannual expenditure rule. This could be introduced in the context of the future proposal for organic law on the management of public finances, scope by the President of the Committee on Finance of the National Assembly, Eric Woerth, and the Rapporteur General of the Budget, Laurent Saint -Martin. The Ministry even pletes for a "constitutional value" rule and therefore binding.
The prospect of a new mandate? Some observers remark that the department draws up a plan for five years ... a few months from the end of the mandate of Emmanuel Macron. This budget program would therefore act as an economic agenda for the President in case of re-election. The goal is above all to reassure the European Commission on the efforts of France is ready to consent. These projections remain of course fragile because suspended from the evolutions of the sanitary crisis. But the line displayed by the government is indeed the release of the famous "although it costs" and the return to a form of budgetary rigor as soon as the epidemic of Covid-19 has been defeated.
China posts record economic growth after plunge 12 months ago .
But quarterly comparison shows slowing momentum, with analysts forecasting levelling off in construction and exports.But compared with the last quarter of 2020, the growth rate slowed, official figures show, raising questions about the strength of the recovery over the rest of this year.