Record high debt levels in Eastern Europe reported by Bloomberg
Bloomberg reported that Eastern European governments have borrowed $32 billion this year, three times more than in the same period last year.
For the first time in ten years, three countries in Eastern Europe: Poland ($9 billion), Romania ($6 billion) and Hungary ($5 billion) are among the top five borrowers from developing countries, according to the agency.
Eastern Europe is suffering huge financial losses as government spending has skyrocketed to compensate for military spending on the weapons it sends to the Kiev regime and spending on Ukrainian refugees.
The authors believe that due to the conflict in Ukraine, the bond market has undergone significant changes. Borrowing has become more expensive even for the top-rated governments after central banks around the world raised interest rates.
The agency estimates that Eastern Europe’s budget deficit will rise to 4.3% of the region’s GDP this year, up 1.3% from 2021.
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