Washington. The budgetary policy of the future president of the United States, Donald Trump, could deepen an already significant public deficit and increase the country’s public debt, considered the rating agency Fitch.
Trump, who will take office on January 20, announced during his campaign that he will seek to reduce taxes, compensating for the drop in revenue with tariffs on all products entering the United States.
He also wants to reduce federal government expenses, a mission that will be led by millionaires Elon Musk and Vivek Ramaswami, within the framework of a kind of ministry of efficiency
. In a note, Fitch anticipates a fiscal deficit of 8.1 percent of gross domestic product (GDP) by 2024, which will reduce to 7.5 percent in 2025 and should stabilize at that level in 2026.
The federal debt rate should exceed 120 percent from 2026.
The figure is lower than the IMF forecasts, which at the end of October predicted a figure equivalent to 132 percent of GDP for US sovereign debt in 2025, if there were no changes in economic policy.
For Fitch, the main risk is an increase in costs associated with borrowing, when interest represented 13.1 percent of the federal budget in 2024. The agency points out its concern about the weak budgetary framework and lack of interest in policies that allow structural and lasting reduction of the deficit
of public finances.