When it comes to public finances, European countries are far from the mark. In a research note published on August 23 under the aegis of the International Monetary Fund (IMF), eight economists from the institution’s Europe department are alarmed.
In the coming years, the ratio of public debt to gross domestic product (GDP) is expected to deteriorate. “The trend will be more unfavourable than expected in 2019”, on the eve of the pandemic, they fear. The prospects for a stabilisation of indebtedness have deteriorated in most European countries.
