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Wealthy countries face rising fiscal pressures due to large deficits and an expected 6% of GDP increase in spending related to aging populations, pensions, and healthcare. As populations age, more funds are allocated to retirees, while political barriers prevent necessary reforms, leading to continued borrowing and increasing national debt. Forecasts for future deficits may be overly optimistic, exacerbating the fiscal crisis.

Author

chaewon143

Language

EN