Economy
Deficits in China and the US will hit or exceed 8% of GDP in 2026, according to IMF forecasts
This picture shows the World Economic Outlook press briefing at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on September 13, 2026. © Photo credit: AFP
Reporter
The world’s leading economies need to take “urgent” action to rebuild public finances, the IMF has warned, as it published forecasts showing leading economies are heading this year for their biggest budget deficits since the Covid-19 collapse.