OREANDA-NEWS. Sberbank's Center for Macroeconomic Research (CMR) has released its report on the United States' public finance.

Despite the fact that the situation with the United States' public finance is not considered to be entirely bright, the CMR has shown that the level of spending is relatively low compared to other developed countries. At the same time the main mid-term challenge remains increasing spending on health care and the consequential increasing budget deficit. However, according to the CMR the situation with US spending is far from critical.

"The chronic federal budget deficit has been observed in US public finance since the mid-1970s," says Sberbank's CMR Director, Yulia Tseplaeva. "But the severity of the problem, which intensified sharply during the 2008-2009 crisis, has receded with the economy coming back and growth in budget revenues. In the next five years the stability of the United States' public finance is not in danger."