In its annual report presented on Wednesday 4 October, the European Fiscal Board believes that figures showing a clear improvement in the levels of public deficit and public debt in nominal terms in 2022 as a result of the post-Covid-19 economic rebound are “misleading”.
In fact, according to the committee, “net expenditure growth [...] paints a completely different picture. [...] It points to a deterioration of underlying expenditure trends especially in high debt and very high-debt...