Where Have All The Fiscal Deficits Gone?  Motilal Oswal Report
A sign displaying U.S. dollar, euro, and Brazilian real exchange rates hangs outside of currency exchange house in Buenos Aires. (Photographer: Sarah Pabst/Bloomberg)

Where Have All The Fiscal Deficits Gone? Motilal Oswal Report

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Motilal Oswal Report

U.S. President Joe Biden announced a $1.9 trillion Covid-19 package to tackle the pandemic-induced economic slowdown.

This was supported by Janet Yellen, former Chair of the U.S. Federal Reserve and current nominee for U.S. Treasury Secretary.

Will this bring the push needed for economic recovery? Maybe. But, the historical evidence is not favorable.

Against an average core fiscal deficit of 3.7% of gross domestic product in the U.S. over the pre-global financial crisis period (1998–2008), the shortfall had more than doubled to 7.6% of GDP over the post-GFC, pre-Covid period (2009–19).

Click on the attachment to read the full report:

Motilal Oswal Ecoscope 280121.pdf

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