Public finance and fiscal policy

What's New

  • Economic Survey of Iceland 2015

    The budget deficit has been eliminated and debt levels have begun to fall. Legislating fiscal rules and introducing a fiscal council would help lock in the progress in achieving debt sustainability.

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  • Economic Survey of Austria 2015

    Austria is well on track to meet its structural deficit objectives. On the other hand, public debt has risen strongly over recent years due to state aid provided to rescue troubled banks and the level of public guarantees is the highest of the EU.

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  • Achieving prudent debt targets using fiscal rules

    Debt targets can serve as a fiscal policy anchor to ensure the sustainability of fiscal policy and that there is sufficient policy room to cope with adverse shocks. Prudent debt targets provide the commitment tool that re-assures markets and thereby diminishes risk premia and the cost of active fiscal policy.

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