Government committed to fiscal consolidation

15 JUL,2019 | MEDC


 

There are no easy solutions for countries with a precarious fiscal position, and it is good to know that the government is officially committed to financial prudence. The government has also said that growth continues to top its agenda. The need of the hour is to coordinate fiscal and monetary policy and assure industry that it is based on a credible policy framework. That will go a long way in restoring business confidence and spur private sector participation in economic development. This approach also needs to be integrated with ongoing structural reforms, such as privatization, promoting the ease of doing business, and the rationalization of regulations governing business activities. Finally, public information programs should be prepared and disseminated effectively to make people aware of the objectives and possible implications of the ongoing economic reform process.

*Photo Credit: Google

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