SANISHA PACKIRISAMY: Tough fiscal decisions can’t be postponed
With good management, the government can prioritise cost-cutting while accelerating inclusive growth
16 February 2023 - 05:00
Fiscal policy space has shrunk in the post-pandemic world. The Covid crisis was a painful reminder of the importance of reinstating financial buffers during healthier economic periods.
Countries are staring down wider fiscal deficits and inflated debt ratios. With the International Monetary Fund (IMF) expecting inflation to remain above pre-pandemic levels in more than 80% of economies in 2024, scope for lowering interest rates to encourage higher growth in domestic demand remains constrained. ..
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