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COP27: Was it the implementation COP ?

COP27 was branded as the ‘implementation COP’ – this was the climate summit meant to finally fulfil financial pledges and translate talk into action. Aside from a few promising, if unseasoned, initiatives, government commitments were not in the billions expected and certainly not the trillions necessary.

Budget deficit pressured by debt costs

The government has blamed its predecessor for inheriting a budget burdened by $1 trillion in gross debt and deficits projected for at least the next decade. Consequently, new fiscal policies have largely been offset for this year and the next.

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