Too high military costs. Figure out which weapons and ammo you actually need and sell the rest. You have enough to bring you out of debt, and that will lower the monthly cost which will balance your budget.
Low employment level. Train more high tech and fewer low and mid level managers. **Build more mining companies before any other businesses.**
Trade some workers to your other country to get those corps to 100% employment. There again mining is the answer.
After you make these changes and show you can turn a profit, ask someone on the Security Council to start a vote for a grant to get your second country out of debt. You must then concentrate on improving education, transportation, and healthcare.
Also set purchase quality for products your country needs at 120 for now, except military, set at 330. Set purchase quality for corps at 220 and **make sure they are all auto upgrading.**