Expert Dmitry Golubkov predicted a rise in inflation in the US – Rossiyskaya Gazeta

At the event, Doctor of Economics Dmitry Golubkov presented a report on “The development of the fiscal crisis in the United States in 2023: preconditions, factors and probable impact on the global economy.” The expert reached the following conclusions.

“Chronic US government deficits have raised total US public debt to 121 percent of GDP (2022 total),” the investment consultant said. “The US federal government’s budget deficit in 2023 could exceed 8 percent of GDP and is currently trending upward.” Interest costs to service the US federal debt reached 3.5 percent of GDP (about $1 trillion) in 2023, equivalent to 20 percent of all income and 14 percent of all budget expenditures, 40 percent of the federal budget deficit. its exposure to US federal government debt.”

Summing up, Dmitry Golubkov highlighted that “the consequences of inflationary deficit financing could be inflation in the United States, a fall in the interest of foreign investors in US public debt, and a reduction in net capital inflows to the United States.”