According to the Fiscal Monitor report from the IMF, global government debt may surpass $100 trillion (equivalent to 93% of global GDP) by 2024. There are predictions of further growth in the medium term, potentially reaching 100% of GDP by 2030. In a severe situation, global debt may rise by almost 20 percentage points beyond the projected baseline, reaching 115% of GDP by 2026. It is very...

US President Joe Biden stated that the approximate damage caused by Hurricane Milton and its consequences in Florida is around $50bn. The president mentioned that efforts are being concentrated on reinstating power in Florida and clearing away debris. Biden added that the government will make every effort to assist those in the impacted areas in restoring order and returning to their homes....

According to a recent Gallup poll, most American voters trust former President Donald Trump more than Vice President Kamala Harris when it comes to managing economic matters. 52% of participants mentioned the economy as their top priority when voting for the president. 54% of people surveyed think Trump would be more effective in managing economic matters. 45% of people indicated a preference to...

The World Bank maintained its prediction of 4.8% GDP growth for China in 2024 and raised its 2025 forecast to 4.3% from the previous 4.1% projection in June. The WB stated in a report on the Asian region that despite the progress made, there is an expected deceleration in China's economy in 2025 due to ongoing issues in the real estate market, weak consumer and business confidence, and structural...

New York has maintained its position as the top financial center worldwide, as determined by the Z/Yen Group Ltd.'s Global Financial Centres Index (GFCI). New York has maintained its top position in the ranking since autumn 2018. In comparison to the last rating in March, New York's score decreased by one point to 763, while London, in second place, saw an increase of three points, bringing its...

A survey conducted by Edelman Financial Engines in the US revealed that only 33% of millionaires believe they are wealthy. The study took place between June and July with over 3 thousand Americans aged over 30, and the income of 1.5 thousand participants ranged from $ 500 thousand to 3 million. Only 12% of those surveyed think of themselves as affluent. Wealthy Americans continue to grow...

The escalation of the conflict between Israel and the Lebanese movement Hezbollah has sparked concern in the U.S. and several other countries, leading them to urge for tensions to be reduced in the Middle East. American President Joe Biden stated that he received information regarding "the most recent updates in Israel and Lebanon" and mentioned that the US was taking steps to bring stability to...

Ursula von der Leyen announced in Wroclaw that 10 billion euros from the European Cohesion Funds will be allocated to EU countries impacted by floods for disaster. She went to the city with the leaders of Poland, Slovakia, the Czech Republic, and Austria. “These are exceptional circumstances, and exceptional circumstances require exceptional actions. Initially, it is possible to access 10 billion...

Amid explosions in Lebanon, , which resulted in the injury of the Iranian ambassador to Beirut, the US State Department advised Tehran against actions that may worsen tensions in the Middle East. State Department spokesman Matthew Miller said Iran should not exploit the situation to create more instability and raise tensions in the region. He pointed out that the US is not involved in the...