## Fiscal Policy in the Great Election Year _Fiscal Monitor, April 2024_ ## Source details **Canonical URL:** [Fiscal Policy in the Great Election Year](https://www.imf.org/en/publications/fm/issues/2024/04/17/fiscal-monitor-april-2024) ## Other formats - [Markdown version](/en/publications/fm/issues/2024/04/17/fiscal-monitor-april-2024/index.md) - [Structured JSON version](/en/publications/fm/issues/2024/04/17/fiscal-monitor-april-2024/index.json) - [Bundle manifest](/en/publications/fm/issues/2024/04/17/fiscal-monitor-april-2024/bundle-manifest.json) ## 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** - [2024aprfiscalmonitordatabase (XLSX)](/-/media/files/publications/fiscal-monitor/2024/april/data/2024aprfiscalmonitordatabase.xlsx){rel="external" type="application/vnd.openxmlformats-officedocument.spreadsheetml.sheet"} - **Chapter 1 — Fiscal Policy in the Great Election Year (ch1)** - [Chapter 1 — Fiscal Policy in the Great Election Year (ch1) (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch1.pdf.md){rel="alternate" type="text/markdown"} - [Chapter 1 — Fiscal Policy in the Great Election Year (ch1) (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch1.pdf){rel="external" type="application/pdf"} - **Ch1execsum** - [Ch1execsum (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch1execsum.pdf.md){rel="alternate" type="text/markdown"} - [Ch1execsum (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch1execsum.pdf){rel="external" type="application/pdf"} - **CHAPTER 1 Fiscal Policy in the Great Election Year — Online Annexes** - [CHAPTER 1 Fiscal Policy in the Great Election Year — Online Annexes (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch1onlineannexes.pdf.md){rel="alternate" type="text/markdown"} - [CHAPTER 1 Fiscal Policy in the Great Election Year — Online Annexes (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch1onlineannexes.pdf){rel="external" type="application/pdf"} - **CHAPTER 2 ExpandIng FrontIErs: FIscal polIcIEs For InnovatIon and tEchnology dIFFusIon** - [CHAPTER 2 ExpandIng FrontIErs: FIscal polIcIEs For InnovatIon and tEchnology dIFFusIon (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch2.pdf.md){rel="alternate" type="text/markdown"} - [CHAPTER 2 ExpandIng FrontIErs: FIscal polIcIEs For InnovatIon and tEchnology dIFFusIon (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch2.pdf){rel="external" type="application/pdf"} - **Ch2execsum** - [Ch2execsum (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch2execsum.pdf.md){rel="alternate" type="text/markdown"} - [Ch2execsum (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch2execsum.pdf){rel="external" type="application/pdf"} - **CHAPTER 2 — Online Annexes (ch2onlineannexes)** - [CHAPTER 2 — Online Annexes (ch2onlineannexes) (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch2onlineannexes.pdf.md){rel="alternate" type="text/markdown"} - [CHAPTER 2 — Online Annexes (ch2onlineannexes) (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/ch2onlineannexes.pdf){rel="external" type="application/pdf"} - **Executive Summary** - [Executive Summary (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/execsum.pdf.md){rel="alternate" type="text/markdown"} - [Executive Summary (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/execsum.pdf){rel="external" type="application/pdf"} - **Foreword** - [Foreword (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/foreword.pdf.md){rel="alternate" type="text/markdown"} - [Foreword (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/foreword.pdf){rel="external" type="application/pdf"} - **msa** - [msa (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/msa.pdf.md){rel="alternate" type="text/markdown"} - [msa (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/msa.pdf){rel="external" type="application/pdf"} - **Full Report** - [Full Report (Markdown version)](/-/media/files/publications/fiscal-monitor/2024/april/english/text.pdf.md){rel="alternate" type="text/markdown"} - [Full Report (PDF)](/-/media/files/publications/fiscal-monitor/2024/april/english/text.pdf){rel="external" type="application/pdf"} --- ## References - [Previous Fiscal Monitor Reports](https://www.imf.org/en/publications/fm) - [Blog by IMF staff](https://origin-blogs.imf.org/en/blogs/articles/2024/04/17/why-our-world-needs-fiscal-restraint-in-biggest-ever-election-year) - [https://www.imf.org/en/Blogs/Articles/2024/04/10/industrial-policy-is-not-a-magic-cure-for-slow-growth](https://www.imf.org/en/Blogs/Articles/2024/04/10/industrial-policy-is-not-a-magic-cure-for-slow-growth) - [Watch the video](https://www.imf.org/en/Videos/view?vid=6350629946112) - [https://www.imf.org/en/home](https://www.imf.org/en/home) _Source: https://www.imf.org/en/publications/fm/issues/2024/04/17/fiscal-monitor-april-2024_