The Post-Pandemic Fiscal Tightrope
A troubling trend persists across Asia, Latin America, and Europe: countries are running fiscal deficits to restore growth and support higher debt-service costs. As fragmentation, climate change, and population aging shape long-term economic prospects, policymakers must balance fiscal consolidation with rising expenditure needs.
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SINGAPORE/LUXEMBOURG CITY/BOGOTÁ – As economies worldwide start to emerge from the inflation-fueled cost-of-living crisis that followed the COVID-19 pandemic, fiscal policymakers are confronting a sobering reality: they are not out of the woods yet.