Some pleasant fiscal arithmetic

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Some pleasant fiscal arithmetic

机译：一些令人愉快的财政算术

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FINANCE MINISTERS of yesteryear would have been shocked by the amount of borrowing their successors must now contemplate. But they would have been just as gobsmacked by how cheap that borrowing has turned out to be. In many countries, the interest rate on government debt is expected to remain below the nominal growth rate of the economy for the foreseeable future. In other words, the "growth-corrected interest rate", as some economists call it, will be negative. That will be the case in all rich countries in 2023, according to projections published earlier this month by S&P Global, a rating agency.

机译：Yesteryear的财务部长将被借入他们的继任者令人震惊的令人震惊。但是他们将被借入借入的廉价才能像Gobsfack一样。在许多国家，预计政府债务的利率将仍低于可预见的未来经济的名义增长率。换句话说，随着一些经济学家称之为，“增长纠正的利率”将是负面的。这将是2023年所有富国国家的情况，根据本月早些时候通过评级机构发布的预测。

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《The economist》 |2021年第9232期|共2页
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Some pleasant fiscal arithmetic

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