Fiscal policy

China's top lawmakers gathered on Monday to hash out a major stimulus package that analysts say could grow even bigger if former U.S. president Donald Trump wins the White House this week.

In a bid to ease energy expenses for vulnerable groups and promote sustainable housing solutions, the Cypriot cabinet approved a set of medium-term measures during its meeting on Tuesday, chaired by President Nikos Christodoulides. The measures are designed to support households and young families, with adjustments planned based on budgetary conditions.

Scope Ratings has upgraded Cyprus' credit rating to A- from BBB+, marking the country's first A-level rating from a major credit agency.

In 2023, Bulgaria maintained one of the lowest government debt-to-GDP ratios in the EU at 22.9%, as overall government deficits in the euro area and EU slightly increased. Government deficits rose to 3.6% of GDP in the euro area and 3.5% in the EU, while government debt levels fell across the region.

China's central bank on Monday cut two key interest rates to historic lows, in the latest move by Beijing to boost sluggish spending and kickstart the world's second-largest economy.

The cuts come just days after the country posted its slowest quarterly growth in a year and a half, underlining the deep economic woes the country faces.

The normalization of monetary and fiscal policies in Türkiye is helping to restore macroeconomic stability as inflation pressures gradually ease, domestic demand cools and external vulnerabilities lessen, the World Bank has said in a report.

A new heating subsidy model will apply for 2024/2025, with key changes including a higher subsidy for electricity consumption and an adjustment of the allowance based on updated climate data.

Global public debt is expected to reach a record $100 trillion this year, the IMF has said, warning that the fiscal outlook for many countries may be even "worse than expected."

The Government and the Ministry of Social Cohesion and Family, in their efforts to provide solutions to the housing crisis, have taken initiatives to ensure affordable and quality housing. Especially for young couples, families, and vulnerable categories of our fellow citizens.

The policy turnaround has reduced Türkiye's economic imbalances and revived confidence, the International Monetary Fund (IMF) has said.

Headline inflation has fallen as tighter financial conditions are weighing on domestic demand, it noted in a statement on Article IV consultation.