From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies


Date: April 30, 2010
 
Electronic Access: Full Text

 
Summary:This paper identifies policy tools to support fiscal consolidation in the years ahead. Its starting point is the analysis in the recent Board papers describing strategies for fiscal consolidation (IMF, 2010a, 2010b), which showed that on current trends, general government debt in advanced countries would rise 36 percentage points of GDP during 2007–14, and that age-related spending (health and pension) would rise rapidly later, further adding to fiscal pressures. Trends are more favorable in emerging economies, but adjustments are needed there too.

Also Available in Russian

 
Series : Policy Paper
Subject(s): Fiscal policy | Developed countries | Emerging markets | Fiscal consolidation | Revenues | Revenue measures | Government expenditures | Fiscal reforms | Tax reforms | Cross country analysis