Fiscal Alert 6: The State of the Economy and the 2017 Budget Performance

In line with the new Public Financial Management Act (Act 921), the Minister for Finance is required to present a mid-year review of the 2017 Budget Statement to Parliament before the close of July. Ahead of this presentation, the IFS has undertaken a review of the state of the economy and the performance of the budget.

The IFS notes that the prospects for the economy in the remaining half of 2017 look promising. However, based on current challenges and risks confronting the budget implementation, more needs to be done to achieve progressive fiscal adjustment, sustained macroeconomic stability, and high non-oil economic growth.

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