The US economy is growing faster than European countries due to “a combination of luck and sanity”. writes about this New York Times He quotes economists surveyed.
According to the publication, inflation is falling in different countries of the world, and economic growth remains stable everywhere, contrary to economists’ forecasts. At the same time, experts especially draw attention to the economic indicators of the USA.
As the NYT notes, progress by Germany, Great Britain and other countries appears “slow” compared to American indicators.
As stated in the article, one of the reasons for the economic success of the United States was fiscal policy. It was noted that American officials continue to spend large amounts of money and recently the White House has started large-scale investments in infrastructure and combating climate change. Some experts believe this could be costly in the future due to rising public debt.
Another reason is Europe’s dependence on Russian energy resources. As the NYT writes, last year 68% of European companies faced increases in energy prices of a quarter or more, while only 30% of companies in the United States reported such a problem.
Another factor, according to experts, was the demographic situation. So the average age in the United States is about 38.5, in Germany it is 46.7, and in Japan it is 49.5. Economists state that young people in the USA work more, families with children buy more real estate and spend more than retirees.
As International Monetary Fund (IMF) Managing Director Kristalina Georgieva noted, the stability of the American economy is due to the volatility of global energy markets and isolation from other factors.
Before that, Bloomberg cited data from the US Congressional Budget Office. reportedThe United States will soon have to spend more on interest payments on its $34 trillion national debt than on national defense.
February 1 recognizedIt has been said that the United States may restructure its national debt.
Previous experts guess Issues with the US national debt during the seizure of Russian assets.