Fiscal Policy for Mitigating the Social Impact of High Energy and Food Prices
IMF Notes, June 7, 2022
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- Fiscal Policy for Mitigating the Social Impact of High Energy and Food Prices
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Bibliographic details
- Authors: Emine Hanedar, Gee Hee Hong, Celine Thevenot
- Published: June 7, 2022
- Series: IMF Notes
- Volume: 2022
- Issue: 001
- Pages: 12
- DOI: https://doi.org/10.5089/9798400211614.068
- Stock No: INSEA2022001
- ISBN: 9798400211614
- ISSN: 2957-4390
Summary
- Fiscal policy has a crucial role in lessening the impact on the most vulnerable households.
- Governments must balance by ensuring access to energy and food, normalizing fiscal policy after unprecedented support in 2020, and promoting green transformation.
Key findings and themes
- Ensuring access to energy and food for vulnerable households is essential.
- Normalizing fiscal policy following unprecedented support in 2020 is necessary.
- Promoting green transformation should be integrated with measures to mitigate social impacts.
Policy recommendations (high-level)
- Target support to the most vulnerable households to lessen the social impact of high energy and food prices.
- Rebalance fiscal frameworks to move from emergency support toward normalized fiscal policy post-2020.
- Design energy and food policies that advance green transformation while protecting access for low-income groups.
Subjects and keywords
- Subject: Economic sectors, Financial crises
- Keywords: Cash transfers, Energy prices, Energy reform, Fiscal policy, Food prices, Food Security, Inflation, Social assistance, Subsidies, Taxation
Fiscal Policy for Mitigating the Social Impact of High Energy and Food Prices — IMF Notes (June 7, 2022).
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- Fiscal Policy for Mitigating the Social Impact of High Energy and Food Prices