U.S. Deficit to Rise to Largest Among Developed Economies: IMF

The U.S. is set to have the largest budget deficit of major developed economies this year and should narrow it now rather than face tough adjustments in the next two years, the IMF said. The U.S. shortfall will reach 10.8% of its GDP this year, ahead of Japan and the U.K., the Washington-based IMF said in a report released today. – Bloomberg