UK is inching ever closer to government debt above 100% of GDP

London: UK government borrowing climbed to a record 214.9 billion pounds ($286 billion) in the first seven months of the fiscal year, underscoring the tough choices facing Chancellor Rishi Sunak as he prepares for a major announcement on spending next week. Office for National Statistics figures showed the deficit in October alone totaled 22.3 billion […]

India’s economy could feel COVID-19 induced weakness for next 5 years

Mumbai: India will be worst-affected among the world’s major economies even after the pandemic wanes, with output 12 per cent below pre-virus levels through the middle of the decade, according to Oxford Economics. Balance-sheet stress that had been building before the coronavirus outbreak will probably worsen, Priyanka Kishore, head of economics for South Asia and […]