Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 28/10/2021 04:54 
13.10.2021 14:12 News >> Fiscal Policy Needs To Adapt To Changing Conditions: IMF

Fiscal Policy Needs To Adapt To Changing Conditions: IMF

Fiscal deficits to slip by nearly 3 percentage points in 2022, return to pre pandemic levels by 2026, IMF says.

In order to address the impacts of the still-evolving pandemic, fiscal policy needs to adapt to changing conditions amid uncertainties over new variants of COVID-19, according to the International Monetary Fund (IMF) on Wednesday.
"Fiscal policy remains supportive, with 2021 deficits falling by about 2 percentage points of GDP in 2021, on average," the IMF said in its October 2021 Fiscal Monitor Report.
Pointing to the large fiscal packages announced in the EU and the US that would add $4.6 trillion to global GDP in 2021-2026, the IMF said the growth is held back in emerging markets (EMs) and low-income developing countries by the low availability of vaccines, and spending more on virus-related priorities.
The report highlighted that low-income developing countries could not provide fiscal support and service their debt mainly due to higher interest rates and lower government revenues.
It projected that deficits will slip by nearly 3 percentage points next year and will return to their pre-pandemic levels by 2026.
"In EMs and low-income developing countries, where the fiscal stance is less supportive than in advanced economies, output and tax revenues are not projected to regain their pre-crisis trajectory and the reduction in deficits will occur largely through lower spending," the IMF said.
Recalling that the global debt rose by $27 trillion year-on-year to reach $226 trillion in 2020, according to preliminary estimates, it said the debt is expected to remain at record-high levels, nearly 100% of GDP in 2021, and to decrease slightly through 2026.
Many low-income developing countries will likely need further international aid and in some cases debt restructuring, it underlined. -



        Latest News
Russia Seeks Israel's Help To Ease US Sanctions On Assad Regime: Report 31 minutes ago...
Some Russian firms are afraid to do business in Syria because they could be targeted by US sanctions.
South Sudan Concerned About Its Citizens In Neighboring Sudan 45 minutes ago...
What is happening in Sudan is an internal matter that Juba cannot jump to conclusions over and talk about, says official.
Turkish Firm Develops AC/DC Converter For Weapon Systems 31 minutes ago...
There are supply problems for AC/DC convertors globally, says employee of technology firm Anova.
Ukraine Confirms Death Of Soldier In Attack By Separatists In Donbas 1 minutes ago...
Turkish Bayraktar drone used for 1st time to force separatists into cease fire, says Defense Ministry.
Russia Ready To Share Its Pandemic Fighting Skills With ASEAN Epidemiologists 31 minutes ago...
Putin calls on Asia Pacific to mutually recognize vaccination certificates, hold special meeting on tourism.

 
      Top News
Canada Firm Bankrupt After Turkish Arms Embargo Imposed By Ottawa Canada Firm Bankrupt After Turkish Arms Embargo Imposed By Ottawa
'Indian Poet Tagore Is A Common Ground Between India, Turkey' 'Indian Poet Tagore Is A Common Ground Between India, Turkey'
US Goods Trade Deficit Jumps 9.2% In September To Record $96.3B US Goods Trade Deficit Jumps 9.2% In September To Record $96.3B
AC Milan Barely Beat Torino 1-0 To Top Italian League AC Milan Barely Beat Torino 1-0 To Top Italian League
Turkey Slashes Foreign Trade Deficit By Almost Half In September Turkey Slashes Foreign Trade Deficit By Almost Half In September
Ghanaian Musician Involved In Hoax Shooting Granted Bail Ghanaian Musician Involved In Hoax Shooting Granted Bail
US Senate Confirms Jeff Flake To Be Washington's New Envoy To Turkey US Senate Confirms Jeff Flake To Be Washington's New Envoy To Turkey
'Turkey, Azerbaijan Have Many Projects In Liberated Territories' 'Turkey, Azerbaijan Have Many Projects In Liberated Territories'
Turkey 'Neutralizes' 5 PKK Terrorists In Northern Syria Turkey 'Neutralizes' 5 PKK Terrorists In Northern Syria
Biden Pledges $100M In US Funding At ASEAN Summit Biden Pledges $100M In US Funding At ASEAN Summit