Trump visits Texas after deadly floods
President Donald Trump toured flood-hit areas in Texas and expanded federal disaster assistance to eight more counties....
Germany’s public debt is projected to climb from 62.5% to 74% of GDP by 2030, driven by record defence and infrastructure spending, according to a report by the European rating agency Scope.
The report highlights the long-term fiscal impact of Berlin’s shift away from its traditional austerity stance. In March, the German parliament approved sweeping spending plans, including a €500 billion ($584 billion) infrastructure fund and a significant boost to defence expenditure.
Scope analyst Julian Zimmermann warned that growing outlays on interest payments, pensions, and healthcare would erode fiscal flexibility. “Despite rising borrowing, the pressure to consolidate the government’s core budget will increase over time,” he said.
According to Scope, the share of freely available funds in the federal budget could plummet from 24% to just 3% by 2035 unless structural reforms in areas such as pensions and the labour market are implemented.
While the infrastructure fund could lift Germany’s long-term growth potential from 0.7% to 1%, the economic stimulus from defence spending will be more limited.
For every euro invested in defence, only 50 cents is expected to directly benefit the domestic economy, the report noted.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
President Donald Trump toured flood-hit areas in Texas and expanded federal disaster assistance to eight more counties.
Washington and Ottawa are once again at odds, as President Trump unveils a sharp new tariff on Canadian goods—citing drug trafficking and trade disputes just weeks ahead of a key deadline.
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water, public health officials say.
Migration offset natural decline for the fourth consecutive year, pushing the European Union’s population to an historic high of 450.4 million in 2024, according to Eurostat figures released on Friday.
Turkish President Erdoğan and Somali President Mohamud met in Ankara to reaffirm strategic ties, with a focus on counterterrorism and regional cooperation.
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