The Future of the State Revisited: Reforming Public Expenditure

Föhrenbergkreis Finanzwirtschaft

I did not know that Austria is an “Emerging Economy” (according to its choseen policy option) hfk

Posted on by iMFdirect

By: Sanjeev Gupta and Martine Guerguil

The global financial crisis brought to the fore the question of sustainability of public finances.But it merely exacerbated a situation that was bound to attract attention sooner or later—governments all over the world have been spending more and more in recent decades. Here at the IMF, we’ve been looking into the factors behind this increase in public spending, particularly social spending, and our latest Fiscal Monitor report discusses some of the options for spending reform. 

Explaining the Growth of Government 

How much governments spend mainly reflects a country’s individual preferences about the desired size of the government and services it delivers.Yet, over a number of years now, government spending as a share of overall economic output has…

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