Cover Fiscal Monitor, April 2014
Fiscal Monitor, April 2014
Public Expenditure Reform: Making Difficult Choices
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Abstract

Fiscal risks are abating somewhat but remain elevated. In advanced economies, recent policy moves have broadly stabilized public debt ratios, but medium-term prospects are still uncertain, and debt remains at historic highs. Fiscal vulnerabilities are rising in both emerging market economies and low-income countries, although in most cases from relatively moderate levels. Across country groups, fiscal policy should aim at rebuilding policy space while supporting the recovery and long-term growth prospects.

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Editor:
Ms. Martine Guerguil
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and
Mr. Michael Keen
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Series:
Fiscal Monitor
Publisher:
International Monetary Fund
Language:
English
Publication Date:
09 Apr 2014
DOI:
https://doi.org/10.5089/9781475557121.089
ISBN:
9781475557121
ISSN:
2219-276X
Pages:
98
Keywords:
FM; economy; country; government; director; IMF staff estimate; longer-term inflation expectation; interest rate; financing vulnerability; monetary policy normalization; fiscal consolidation plan; fiscal policy; risks to emerging market economies; Fiscal stance; Macroeconomic and fiscal forecasts; Emerging and frontier financial markets; Global; Pacific Islands; Africa; Middle East; North Africa; expenditure rule; expenditure reform; potential GDP; imputed interest; short-term debt; wage bill; Education spending; East Africa; Caribbean
Legal-disclaimer:
The views expressed in this publication are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Directors or their national authorities.
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