Trump’s tariffs as fiscal folly
In 2025, the US government underwent a large fiscal switch, with Congress enacting large income tax cuts and the second Trump administration putting new tariffs
US budget deficit forecast $1trln higher over next decade, watchdog says
The Committee for a Responsible Federal Budget’s latest forecasts show a cumulative deficit of $22.7trln from fiscal 2026 to 2035. U.S. federal budget deficits will
Navigating debt and trade: Data show persistent debt challenges for developing countries amid uncertain trade prospects
Low- and middle- income countries (LMICs) have rebounded strongly since the COVID-19 pandemic. Gross national income (GNI) among these countries was resilient in 2023, at
Bigger, better funded and focused on public goods: how to revamp the European Union budget
How should the European Union budget be revamped to meet the pressing collective challenges of climate change, competitiveness, defence, enlargement and response to unforeseen shocks?
Do governments adhere to their approved budgets? Insights from PEFA assessments
Why budget reliability matters Accurate revenue and expenditure forecasting is crucial for effective budgeting to ensure that governments can adequately plan for public services, infrastructure
Tariffs cannot fund the government: Evidence from tariff Laffer curves
Until the late 19th century, states raised most of their government revenues from import tariffs. This column asks whether the practice could work today. A
