INSUBCONTINENT EXCLUSIVE:
how they manage and collect taxes.This funding, known as Profisco III, aims to help states adapt to new tax rules and improve financial
than those of the federal government in recent years
States Drive Debt, Not Just the Federal Government
(Photo Internet reproduction)These states face chronic budget shortfalls, high spending on pensions, and limited revenue growth
Their debts have pushed them to seek repeated bailouts and special fiscal regimes from the federal government.Official data from the
Ministry of Finance lists these states among the largest subnational borrowers
The Profisco III program targets these problems by funding digital upgrades, better budget planning, and more transparent spending.For
example, states can use the money to automate tax collection, cut paperwork, and track public spending more closely
The goal is to make it harder for money to go missing and easier for states to balance their books
rise in public debt by 2030
debts keep rising, fueled by mandatory expenses and weak local economies
Business leaders and investors watch these trends closely.High state debt can mean higher taxes, delayed payments, and more uncertainty for
For the public, it can mean less money for services like health and education.If states cannot control their debts, the risk of financial
crises rises, which can spill over to the national economy
their debts and avoid repeating past mistakes
