Public finance

Europe’s critical raw materials strategy

How the European Union can build resilience without abandoning its commitment to fair play

Over three billion people currently live in countries that spend more on debt payments than on essential services such as health or education.
THE BROAD VIEW

Developing countries need a new approach to long-term financing 

The writers propose reforms that would facilitate low-interest lending to fund critical climate and development goals

“As these projects get underway, they will create jobs, increase income for citizens, and unlock consumption potential,” said Jia Kang, who now leads the China Academy of New Supply-Side Economics, a private think tank.

China ready for US$1.4 trillion fiscal bazooka, top economist says

He says authorities can lift confidence by drastically raising government investment in public projects

Reeves’ comments come ahead of an update on the state of Britain’s finances she plans to present in Parliament on Monday (Jul 29), a key moment when she’s expected to detail a near £20 billion (S$34.5 billion) funding shortfall for public services.

Chancellor Reeves says she’ll fix ‘mess’ of UK public finances

“I am going to fix the mess that the Tories have left us,” says the Chancellor of the Exchequer

The US Treasury secretary also notes that concentration among the vendors that develop AI models and that provide data and cloud services may also introduce risks that could amplify existing third-party service provider risks.

Yellen to warn of 'significant risks' from use of AI in finance

But she also recognises the benefits of AI in the automation of customer support services, improved efficiency, fraud detection and combating illicit finance

The global decline in birth rates may well be transitory, but there are reasons to expect a structural fall for a while.

Destiny and danger where demography meets finance

The impact of a population stretching the limits of longevity, combined with a falling birth rate, will increasingly be felt in the global economy

The book highlights the importance of distinguishing between spending for consumption and spending for investment.
THE BROAD VIEW

Public net worth – the measure of financial strength and success

New book on government accounting advances ideas worth considering

From left: Federal Reserve chair Jerome Powell, European Central Bank president Christine Lagarde, and Bank of Japan governor Kazuo Ueda at the Kansas City Federal Reserve Bank's annual economic policy symposium in Jackson Hole, Wyoming on Aug 25, 2023.
THE BOTTOM LINE

The five global economic shifts happening now

As uncertainty and inflation challenge central bankers and policymakers, they must also adapt to structural changes

Singapore needs to consider the size of public spending and how to fund it, including how much to extract from the state’s reserves.
THE BROAD VIEW

Debt and spending: How we can be fair to both current and future generations

EARLIER this month, Fitch downgraded the United States sovereign credit rating by one notch from the highest AAA to AA+.

AGO has found lapses in the evaluation and award of three tenders at the People’s Association.

Auditor-General flags lapses in public agencies, including improper money management practices

SINGAPORE’S national auditor has flagged several public agencies for lapses, including the improper handling of money, in its latest annual audit of the government’s accounts.