Saturday, September 6, 2025
spot_img

Budget deficits in developed economies cause global inflation: Putin

Date:

Share post:

spot_imgspot_img

Moscow, Oct 30 : Excessive incentives, including serious budget deficits, by developed countries have resulted in general instability and rising prices globally, Russian President Vladimir Putin said on Saturday.

“I would like to note that the United States takes 40 per cent of the budget deficits of all G20 countries for 2020-2021,” Putin said via video link at the first session of the 16th Group of 20 (G20) Leaders’ Summit, Xinhua news agency rerported.

The persistent use of serious budget deficits creates a risk of high global inflation in the medium term, which decreases business activity and aggravates inequality, he warned.

Putin saw it important to prevent a stagflationary spiral, work towards the normalization of budgetary and monetary policies, and improve management of the structure of demand in order to reduce inequality and increase people’s well-being.(IANS)

spot_imgspot_img

Related articles

B’desh: Students slam Jamaat leader’s ‘landowner’ remarks on CU clashes

Dhaka, Sep 6:  Several students at Bangladesh's Chittagong University (CU) staged a protest at the campus on early...

Two lynched in Bengal’s Nadia on suspicion of murdering child

Kolkata, Sep 6: Two persons were lynched in Nadia district’s Nischintapur area on Saturday after being accused of...

Petition filed in K’taka HC against govt move to have Booker Prize awardee Mushtaq inaugurate Mysuru Dussehra

Bengaluru, Sep 6:Adding to the ongoing Mysuru Dussehra row in Karnataka, former BJP MP Pratap Simha on Saturday...

Apple’s India sales hit record $9 billion in FY25 after retail expansion

New Delhi, Sep 6:  US tech giant Apple's annual sales in India touched a record of nearly $9...