Public finance and fiscal policy


  • OECD Economic Outlook and Interim Economic Outlook

    Weak trade growth and financial distortions are exacerbating slow global economic growth, according to the OECD’s latest Interim Economic Outlook. The global economy is projected to grow at a slower pace this year than in 2015, with only a modest uptick expected in 2017. The Outlook warns that a low-growth trap has taken root, as poor growth expectations further depress trade, investment, productivity and wages.

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  • Making public finances more growth and equity-friendly in the euro area

    To achieve a euro area fiscal stance that fosters the recovery, countries with fiscal space under the Stability and Growth Pact rules should use budgetary support to raise growth, and existing incentives and flexibility should be taken advantage of to pursue reforms of tax and spending policies.

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  • Fiscal policy in the euro area: in the current juncture, don’t apply sanctions

    The European Commission will assess again the fiscal situation of Portugal and Spain, and decide whether to recommend to the Council that the Excessive Deficit Procedure be stepped up for those countries, exposing them to various sanctions.

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Finance and inclusive growth: How to restore a healthy financial sector that supports long-lasting, inclusive growth?

Over the past 50 years, credit by banks and other institutions to households and businesses has grown three times as fast as economic activity. At these levels, further expansion is likely to slow long-term growth and raise inequality.

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.

More reports

Vulnerability of Social Institutions

Choosing fiscal consolidation instruments compatible with growth and equity

Public Spending on Health and Long-Term Care

Less income inequality and more growth - Are they compatible?

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