The most likely explanation for this public investment shortfall is fiscal constraints. And, indeed, debt and unfunded non-debt liabilities increasingly weigh down public-sector balance sheets and pension funds, eroding the foundations of resilient, sustainable growth.
这一公共投资短缺的最可靠的解释是财政约束。的确，债务和存在资金缺口的非债务负债日益压迫着公共资产负债表和退休基金，破坏强力可持续增长的基础。