The accelerated growth of US government debt could create problems for the global economy, especially for developing countries.
The United States is in trouble if the government fails to reduce its budget deficit. Entrepreneur Elon Musk announced this on Sunday, December 15, on his X page (formerly Twitter).
According to him, the deficit is currently at $1.83 trillion.
“America is going to have a serious problem. It’s no different than someone going into debt,” Musk said.
We remind you that the businessman himself may join the administration of the elected US President Donald Trump.
In the fall, the US Treasury reported that the US budget deficit in the 2024 fiscal year will reach 1.83 trillion, which is 138 billion dollars.
Earlier, the National Bank of Ukraine changed the main macroeconomic indicators for the current and subsequent years. Thus, GDP growth at the end of 2024 will be 4% instead of 3.7% predicted in July, and at the end of 2025 – 4.3% against the previously expected 4.1%.
At the same time, the IMF predicts that in 2024 the Ukrainian economy will grow by 3%, and in 2025 – only by 2.5%.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.