Public finances in advanced economies: significant yet surmountable constraints?
From Macro Waves by BNP Paribas Economic Research
February 23, 2026 · 11 min
About this episode
The episode discusses the complexities of public finances in advanced economies and explores potential solutions and reasons for optimism.
Between rising interest rates, an ageing population and massive rearmament needs, the budgetary equation for advanced economies is becoming increasingly complex. Why is debt continuing to grow in the United States and France, while it is falling in Spain and Italy? How does Germany intend to finance its infrastructure and defence without jeopardising its budgetary stability? In this new episode of En Eco dans le texte, Stéphane Colliac, Marianne Mueller and Benjamin Puiseux explain the inner workings of public debt. They also explore reasons for optimism: from the impact of artificial intelligence on productivity to reforms in the employment rate of senior citizens. These are certainly significant constraints, but are they really insurmountable? Delve into the issues that will shape global economies between now and the end of the decade. https://economic-research.bnpparibas.com/Home/en-US Hosted on Ausha. See ausha.co/privacy-policy for more information.
People in this episode
Guests: Stéphane Colliac, Marianne Mueller, Benjamin Puiseux
Topics covered
- public finances
- advanced economies
- debt
- infrastructure
- defence
- artificial intelligence
- productivity
Keywords
- public debt
- budgetary stability
- ageing population
- interest rates
- reforms
- employment rate
- global economies
Mentioned in this episode
Organizations: BNP Paribas Economic Research
Places: United States, France, Spain, Italy, Germany
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