Nations s such as Germany, Spain, Italy, and Belgium are bracing for considerable fiscal shortfalls in 2024. Germany anticipates a budget deficit of €17 billion ($ billion), with Spain, Italy, and Belgium projected to encounter deficits of €11 billion ($ billion), €10.8 billion ($ billion), and €4.6 billion ($ billion) respectively. Particularly alarming is Italy’s expectation that its 7.2 percent deficit will lead to interest expenses for government borrowing to surge to 9 percent of all revenues this year.
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