A Status Update on Fiscal Exit Strategies
December 1, 2010
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Summary
With a modest recovery in the global economy underway, and amid rising concerns about the sharp increase in government debt in several countries, debate has increasingly focused on the need to identify and implement fiscal exit strategies. This paper reviews the medium-term plans of 25 countries - the G20 plus six others with large adjustment needs - and finds that most of them have made reasonable progress in defining these strategies. Nevertheless, strategies fall short in some areas, including committing to long-term debt targets, spelling out adjustment measures in detail, and tackling rising health care costs.
Subject: Expenditure, Fiscal policy, Fiscal stance, Public debt, Revenue administration
Keywords: adjustment plan, country authorities, output gap, real GDP, WP
Pages:
66
Volume:
2010
DOI:
Issue:
272
Series:
Working Paper No. 2010/272
Stock No:
WPIEA2010272
ISBN:
9781455210794
ISSN:
1018-5941
