Fiscal Policy in the Great Election Year
Fiscal Monitor, April 2024
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- Fiscal Policy in the Great Election Year
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Bibliographic details
- Published: April 17, 2024
Overview
- Publication: Fiscal Monitor
- Title: Fiscal Policy in the Great Election Year
- Date: April 2024
- Summary statement: Even as the global economic outlook is stabilizing, fiscal policy continues to struggle with legacies of high debt and deficits, while facing new challenges.
Heightened fiscal risks and context
- Over 80 economies and economic areas are holding elections this year.
- Public finances risks are acute in the context of:
- legacies of high debt and deficits,
- still-high interest rates,
- slowing growth prospects.
- Financing conditions remain challenging.
- Spending pressures to address structural challenges are becoming more pressing.
Key findings from Chapter 1
- The chapter highlights heightened risks to public finances given potential distortions from a record number of elections this year in the context of elevated public debt, still-high interest rates, and slowing growth prospects.
- Decisive fiscal consolidation efforts are needed to safeguard sustainable finances, while protecting the most vulnerable.
Innovation and technology diffusion (Chapter 2)
- Amid the recent rise in industrial policies focusing on innovation in specific sectors, the chapter presents a cost-effective mix of fiscal policies to:
- promote innovation more broadly, including fundamental research, and
- facilitate technology diffusion across countries and firms.
Policy recommendations and priorities
- Countries should boost long-term growth with a well-designed fiscal policy mix to promote innovation more broadly, including fundamental research, and facilitate technology diffusion.
- Durable fiscal consolidation efforts are needed to safeguard sustainable public finances and rebuild buffers.
- Fiscal consolidation should be designed to protect the most vulnerable.
Associated materials listed on the page
- Full Report
- executive summary
- Foreword
- Fiscal Monitor Database
- METHODOLOGICAL AND STATISTICAL APPENDIX
- Chapter 1: Fiscal Policy in the Great Election Year
- Blog by IMF staff
- Online annex
- Chapter 2: Expanding Frontiers: Fiscal Policies for Innovation and Technology Diffusion
- Watch the video
Fiscal Monitor — Fiscal Policy in the Great Election Year (April 2024).
Content in this bundle
- 2024aprfiscalmonitordatabase
- Chapter 1 — Fiscal Policy in the Great Election Year (ch1)
- Ch1execsum
- CHAPTER 1 Fiscal Policy in the Great Election Year — Online Annexes
- CHAPTER 2 ExpandIng FrontIErs: FIscal polIcIEs For InnovatIon and tEchnology dIFFusIon
- Ch2execsum
- CHAPTER 2 — Online Annexes (ch2onlineannexes)
- Executive Summary
- Foreword
- msa
- Full Report