States under fiscal strain amid high welfare spend: Morgan Stanley
States are facing fiscal pressure as revenue growth slows and welfare spending remains high, leading to elevated deficits. Morgan Stanley reports state fiscal deficits are projected to stay at 3.2% of GSDP through FY27, while the consolidated fiscal deficit is expected to rise to 7.9%.
States are facing fiscal pressure as revenue growth slows and welfare spending remains high, leading to elevated deficits. Morgan Stanley reports state fiscal deficits are projected to stay at 3.2% of GSDP through FY27, while the consolidated fiscal deficit is expected to rise to 7.9%.
