Fitch: US state budgets prepare for macro uncertainties

In a statement made by the credit rating agency, it was stated that state budgets are structured to combat inflationary and macro pressures over the next few months.

In the statement, it was stated that the state budgets in the USA were prepared for the future macro uncertainties, and it was reported that the said budgets were in a much better position as we entered the 2023 fiscal year.

In the statement, it was noted that as the fiscal year 2023 approaches in the country, all 50 states have implemented their budgets, which is an improvement compared to pre-COVID-19 dynamics, largely thanks to increased revenues.

Pointing out that slower economic growth and increasing inflation pose some downside risks, it was emphasized that the budgets that came into force took into account potential economic and geopolitical headwinds.

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