Sovereign Debt API
Combines the general government debt ratio, the budget balance, nominal GDP growth and the long-term government bond yield into a debt pressure reading. The quantity that decides the trajectory is the differential between the interest rate and the nominal growth rate: below zero the debt ratio falls by itself even while running a deficit, above zero it rises even with a balanced budget, and reporting a debt ratio without that differential is the most common way public finances get read wrongly.
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