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FiscalAlert13: Mid-Year Review of the 2018 Budget Statement & Economic Policy

Mid-Year Review of the 2018 Budget Statement & Economic Policy

On July 19, 2018, the Minister of Finance presented to Parliament the Government’s Mid-Year Fiscal Policy Review of the 2018 Budget Statement and Economic Policy. According to the Minister of Finance, the overarching goal of government’s macrofiscal policy is to deepen macroeco- nomic stability, grow the productive sectors of the economy, create jobs and ultimately move the economy beyond aid. Consequently, the government’s fiscal policy has been designed to reduce the fiscal deficit to ensure debt sustainability without compromising growth. It has also been designed to be growth friendly, refor- mative and flexible to enable a quick adaptation to an evolving economy.
The Institute for Fiscal Studies (IFS) has reviewed the Government’s Mid-Year Review of the 2018 Budget and Economic Policy. The review, presented below, focuses on four thematic issues: an overview of recent macroeconomic performance; fiscal performance and adjustments to the fiscal framework; observations and comments; and conclusions

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