 Understanding Fiscal SpacePeter Heller No 2005/004, IMF Policy Discussion Papers from International Monetary Fund Abstract: With new initiatives to provide low income countries with external assistance in support of the Millennium Development Goals (MDGs), donors and NGOs are seeking to understand whether "fiscal space" can be provided in the context of IMF-supported programs to support these initiatives. This paper defines the concept of fiscal space and its link to fiscal sustainability, describes alternative ways in which fiscal space can be created, and notes how the IMF can support appropriate efforts to create fiscal space. The paper underscores that the issues that arise in creating fiscal space are not novel, but have always confronted governments in judging whether there is scope for additional expenditure. Keywords: PDP; expenditure program; GDP; revenue; Tanzania; Fiscal space; fiscal sustainability; MDGs; spending program; poverty-reducing spending; expenditure priority; government expenditure program; reprioritizing expenditure; expenditure policy decision; expenditure structure; Dutch Disease effect; Debt financing; Infrastructure (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfpdp:2005/004 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Policy Discussion Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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