Using fiscal levers to escape the low-growth trap

The role of fiscal policy has been at the heart of the policy debate since the financial crisis. With the global economy stuck in a low-growth trap and monetary policy overburdened, it is time to re-assess the use of fiscal policy levers.

To what extent can public deficits increase without putting fiscal sustainability at risk, given the specific current macroeconomic situation of protracted low growth and low interest rates, combined with relatively high government debt levels?

For the last five years the global economy has been in a low-growth trap, with growth disappointingly low and stuck at around 3 per cent per year. Persistent growth shortfalls have weighed on future output expectations and thereby reduced current spending and potential output gains.

Independent fiscal institutions (IFIs) serve to promote sound fiscal policy and sustainable public finances. This report outlines good practices for their effective design and operation.

Legislative and regulatory policy options for sustainable capital markets - A good corporate governance framework should combine transparency, accountability and integrity and this requires knowledge of beneficial ownership. This report assesses the costs, benefits and practicalities of different approaches, suggesting policy options to better identify ultimate beneficial ownership in Indonesia.

This report on climate change disclosure in G20 countries takes stock of mandatory climate change reporting schemes in G20 countries and identifies commonalities and divergences between the various schemes.

Corporate climate change disclosure is crucial for providing decision-makers with information that will enable them to integrate climate considerations into their analyses. This side event to the 21st session of the Conference of the Parties will focus on ways to strengthen corporate climate disclosure frameworks, and to scale up the use of corporate climate change-related information.

This report provides an overview of national approaches to disclosure and transparency in the state-owned enterprise (SOE) sector in nine Asian economies: Bhutan, India, Kazakhstan, Korea, Malaysia, Pakistan, Philippines, Thailand and Viet Nam.

7 December 2017, Paris - This workshop addressed the growing demand for transparency and information on how companies deal with human rights, environmental, social and other "non-financial" issues with a particular focus on how companies are identifying and addressing impacts in their supply chains.

Fiscal Expenditure in Qatar decreased to 192835 QAR Million in 2018 from 203265 QAR Million in 2017. Fiscal Expenditure in Qatar averaged 59512.33 QAR Million from 1974 until 2018, reaching an all time high of 250707 QAR Million in 2014 and a record low of 2464 QAR Million in 1974. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Qatar Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Cuba increased to 65497.50 CUC Millions in 2018 from 63905.70 CUC Millions in 2017. Fiscal Expenditure in Cuba averaged 42934.13 CUC Millions from 2001 until 2018, reaching an all time high of 65497.50 CUC Millions in 2018 and a record low of 15771 CUC Millions in 2001. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Cuba Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports Intra Eu - Miscellaneous Manufactured Articles in the United Kingdom decreased to 83.59 GBP Million in February from 83.87 GBP Million in January of 2020. Imports Intra Eu - Miscellaneous Manufactured Arti in the United Kingdom averaged 42.67 GBP Million from 1996 until 2020, reaching an all time high of 111.94 GBP Million in February of 2014 and a record low of 4.60 GBP Million in February of 2015. This page includes a chart with historical data for the United Kingdom Imports of Intra EU - Miscellaneous Manufactured.

Imports of Intra EU - Miscellaneous Edible Prepar in the United Kingdom decreased to 181.53 GBP Million in February from 188.51 GBP Million in January of 2020. Imports of Intra EU - Miscellaneous Edible Prepar in the United Kingdom averaged 118.85 GBP Million from 1996 until 2020, reaching an all time high of 249.33 GBP Million in March of 2019 and a record low of 40.54 GBP Million in January of 2000. This page includes a chart with historical data for the United Kingdom Imports of Intra EU - Miscellaneous Edible Prepar.

Imports Intra Eu - Miscellaneous Chemical Products in the United Kingdom decreased to 269.99 GBP Million in February from 334.26 GBP Million in January of 2020. Imports Intra Eu - Miscellaneous Chemical Products in the United Kingdom averaged 170.77 GBP Million from 1996 until 2020, reaching an all time high of 369.57 GBP Million in March of 2019 and a record low of 53.70 GBP Million in December of 1996. This page includes a chart with historical data for the United Kingdom Imports of Intra EU - Miscellaneous Chemical Prod.

Imports Intra Eu - Miscellaneous Articles Of Base Metal in the United Kingdom increased to 85.21 GBP Million in February from 79.13 GBP Million in January of 2020. Imports Intra Eu - Miscellaneous Articles Of Base in the United Kingdom averaged 60.83 GBP Million from 1996 until 2020, reaching an all time high of 105.36 GBP Million in October of 2019 and a record low of 7 GBP Million in March of 2015. This page includes a chart with historical data for the United Kingdom Imports of Intra EU - Miscellaneous Articles of B.

Fiscal Expenditure in Laos increased to 31002.90 LAK Billion in 2018 from 30426.50 LAK Billion in 2017. Fiscal Expenditure in Laos averaged 11953.09 LAK Billion from 1996 until 2018, reaching an all time high of 31002.90 LAK Billion in 2018 and a record low of 364.40 LAK Billion in 1996. This page provides - Laos Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Bhutan increased to 56513.50 BTN Million in 2018 from 48017.99 BTN Million in 2017. Fiscal Expenditure in Bhutan averaged 26915.69 BTN Million from 2002 until 2018, reaching an all time high of 56513.50 BTN Million in 2018 and a record low of 9945.30 BTN Million in 2003. This page provides - Bhutan Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports of Miscellaneous Manufactured Articles in Singapore increased to 4061.84 SGD Million in March from 3984.22 SGD Million in February of 2020. Exports of Miscellaneous Manufactured Articles in Singapore averaged 3829.63 SGD Million from 2014 until 2020, reaching an all time high of 4546.86 SGD Million in November of 2019 and a record low of 3197.50 SGD Million in February of 2016. This page includes a chart with historical data for Singapore Exports of Miscellaneous Manufactured Articles.

Imports - Miscellaneous Transactions Not Elsewhere Specified in Singapore increased to 2612.58 SGD Million in March from 2426.12 SGD Million in February of 2020. Imports - Miscellaneous Transactions Not Elsewhere in Singapore averaged 1509.22 SGD Million from 2014 until 2020, reaching an all time high of 3557.97 SGD Million in December of 2016 and a record low of 510.34 SGD Million in June of 2014. This page includes a chart with historical data for Singapore Imports of Miscellaneous Transactions Not Elsewhe.

Imports of Miscellaneous Manufactured Articles in Singapore increased to 3321.85 SGD Million in March from 3173.68 SGD Million in February of 2020. Imports of Miscellaneous Manufactured Articles in Singapore averaged 3176.09 SGD Million from 2014 until 2020, reaching an all time high of 3752.40 SGD Million in October of 2019 and a record low of 2554.23 SGD Million in February of 2015. This page includes a chart with historical data for Singapore Imports of Miscellaneous Manufactured Articles.

Exports of Miscellaneous in France decreased to 183 EUR Million in March from 271 EUR Million in February of 2020. Exports of Miscellaneous in France averaged 278.71 EUR Million from 2000 until 2020, reaching an all time high of 951 EUR Million in January of 2016 and a record low of 183 EUR Million in March of 2020. This page includes a chart with historical data for France Export: Miscellaneous.

Exports of Miscellaneous Manufactures in France decreased to 1308 EUR Million in March from 1390 EUR Million in February of 2020. Exports of Miscellaneous Manufactures in France averaged 1026.64 EUR Million from 2000 until 2020, reaching an all time high of 2008 EUR Million in March of 2019 and a record low of 501 EUR Million in August of 2003. This page includes a chart with historical data for France Export: Miscellaneous Manufactures.

Fiscal Expenditure in Bosnia And Herzegovina increased to 12738.29 BAM Million in 2018 from 11913.44 BAM Million in 2017. Fiscal Expenditure in Bosnia And Herzegovina averaged 9918.46 BAM Million from 2003 until 2018, reaching an all time high of 12738.29 BAM Million in 2018 and a record low of 5680.44 BAM Million in 2003. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Bosnia And Herzegovina Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Belize increased to 1048.50 USD Million in 2018 from 1005.80 USD Million in 2017. Fiscal Expenditure in Belize averaged 545.38 USD Million from 1993 until 2018, reaching an all time high of 1048.50 USD Million in 2018 and a record low of 208.70 USD Million in 1993. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Belize Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Suriname increased to 7934 SRD Million in 2018 from 7134.70 SRD Million in 2017. Fiscal Expenditure in Suriname averaged 4219.62 SRD Million from 2006 until 2018, reaching an all time high of 7934 SRD Million in 2018 and a record low of 1772.40 SRD Million in 2006. This page provides - Suriname Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Suriname was last recorded at 25 percent. Interest Rate in Suriname averaged 7.78 percent from 1954 until 2018, reaching an all time high of 25 percent in the fourth quarter of 2016 and a record low of 4 percent in the second quarter of 1954. In Suriname, the interest rate refers to the Discount Rate, the rate which the Central Bank of Suriname extends credit to the commercial banks and the government. This page provides the latest reported value for - Suriname Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Deposit Interest Rate in Czech Republic decreased to 0.05 percent in March from 0.75 percent in March of 2020. Deposit Interest Rate in Czech Republic averaged 3.26 percent from 1993 until 2020, reaching an all time high of 13 percent in May of 1997 and a record low of 0.05 percent in November of 2012. In Czech Republic, the deposit facility is a non-collateralised standing facility which banks may use to make overnight deposits of surplus liquidity with the CNB. The deposits are remunerated at the discount rate, which generally provides a floor for short-term interest rates on the money market. This page includes a chart with historical data for Deposit Interest Rate in Czech Republic.

Fiscal Expenditure in Swaziland increased to 21831689 SZL Thousand in 2019 from 21596138 SZL Thousand in 2018. Fiscal Expenditure in Swaziland averaged 13750725.21 SZL Thousand from 2006 until 2019, reaching an all time high of 21831689 SZL Thousand in 2019 and a record low of 5828946 SZL Thousand in 2006. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Swaziland Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Kuwait increased to 1392.90 KWD Million in December from 910.70 KWD Million in November of 2015. Fiscal Expenditure in Kuwait averaged 704.85 KWD Million from 1993 until 2015, reaching an all time high of 8712.10 KWD Million in March of 2013 and a record low of 74.10 KWD Million in April of 2011. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Kuwait Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Bahrain increased to 3687.20 BHD Million in 2018 from 3579.70 BHD Million in 2017. Fiscal Expenditure in Bahrain averaged 2311.53 BHD Million from 2000 until 2018, reaching an all time high of 3707.70 BHD Million in 2014 and a record low of 787 BHD Million in 2000. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Bahrain Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports of Miscellaneous Manufacturers Articles in Japan increased to 773590.60 JPY Million in March from 541595.55 JPY Million in February of 2020. Imports of Miscellaneous Manufacturers Articles in Japan averaged 490806.27 JPY Million from 1983 until 2020, reaching an all time high of 997970.36 JPY Million in October of 2018 and a record low of 83141.34 JPY Million in January of 1983. This page includes a chart with historical data for Japan Imports of Miscellaneous Manufacturers Articles.

Imports of Miscellaneous Manufactured Articles in Japan increased to 182003.32 JPY Million in March from 123372.29 JPY Million in February of 2020. Imports of Miscellaneous Manufactured Articles in Japan averaged 139437.69 JPY Million from 1988 until 2020, reaching an all time high of 254781.05 JPY Million in December of 2006 and a record low of 55006.73 JPY Million in January of 1988. This page includes a chart with historical data for Japan Imports of Miscellaneous Manufactured Articles.

Imports of Miscellaneous Food Preparations in Japan increased to 18808.71 JPY Million in March from 14463.56 JPY Million in February of 2020. Imports of Miscellaneous Food Preparations in Japan averaged 10438.34 JPY Million from 1988 until 2020, reaching an all time high of 18844.73 JPY Million in June of 2015 and a record low of 1479.28 JPY Million in February of 1995. This page includes a chart with historical data for Japan Imports of Miscellaneous Food Preparations.

Fiscal Expenditure in Luxembourg increased to 25188.30 EUR Million in 2018 from 23757 EUR Million in 2017. Fiscal Expenditure in Luxembourg averaged 14578.99 EUR Million from 1995 until 2018, reaching an all time high of 25188.30 EUR Million in 2018 and a record low of 6417.20 EUR Million in 1995. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Luxembourg Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Faroe Islands increased to 9745 DKK Million in 2018 from 8928.90 DKK Million in 2017. Fiscal Expenditure in Faroe Islands averaged 6684.21 DKK Million from 1998 until 2018, reaching an all time high of 9745 DKK Million in 2018 and a record low of 3948.40 DKK Million in 1998. This page provides - Faroe Islands Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Belgium increased to 235976.40 EUR Million in 2018 from 228976.10 EUR Million in 2017. Fiscal Expenditure in Belgium averaged 170183.59 EUR Million from 1995 until 2018, reaching an all time high of 235976.40 EUR Million in 2018 and a record low of 110858.20 EUR Million in 1995. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Belgium Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Iran increased to 2429400 IRR Billion in 2018 from 2070176.50 IRR Billion in 2017. Fiscal Expenditure in Iran averaged 723946.89 IRR Billion from 1999 until 2018, reaching an all time high of 2429400 IRR Billion in 2018 and a record low of 53545.60 IRR Billion in 1999. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Iran Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Montenegro increased to 1520740120.46 EUR in the third quarter of 2019 from 970077899.02 EUR in the second quarter of 2019. Fiscal Expenditure in Montenegro averaged 910346201.96 EUR from 2003 until 2019, reaching an all time high of 2143082214.78 EUR in the fourth quarter of 2018 and a record low of 174130466.74 EUR in the first quarter of 2006. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Montenegro Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Croatia decreased to 10431.60 HRK Million in October from 10671.10 HRK Million in September of 2019. Fiscal Expenditure in Croatia averaged 9566.14 HRK Million from 2004 until 2019, reaching an all time high of 14032.80 HRK Million in December of 2008 and a record low of 6577.70 HRK Million in August of 2004. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Croatia Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Uruguay increased to 57400 UYU Million in November from 49524.18 UYU Million in October of 2019. Fiscal Expenditure in Uruguay averaged 21838.46 UYU Million from 1999 until 2020, reaching an all time high of 62038.19 UYU Million in December of 2018 and a record low of 5518.89 UYU Million in May of 1999. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Uruguay Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Portugal increased to 49424 EUR Million in November from 44395 EUR Million in October of 2019. Fiscal Expenditure in Portugal averaged 20111.95 EUR Million from 1990 until 2019, reaching an all time high of 51469 EUR Million in December of 2018 and a record low of 819 EUR Million in January of 1991. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Portugal Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Congo decreased to 618369 CDF Million in November from 634197 CDF Million in October of 2019. Fiscal Expenditure in Congo averaged 342009.12 CDF Million from 2009 until 2019, reaching an all time high of 820125.68 CDF Million in July of 2018 and a record low of 85917.78 CDF Million in February of 2009. This page provides - Congo Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Maldives decreased to 2517.30 MVR Million in November from 2779.40 MVR Million in October of 2019. Fiscal Expenditure in Maldives averaged 1960.66 MVR Million from 2014 until 2019, reaching an all time high of 3795.80 MVR Million in December of 2016 and a record low of 1061.20 MVR Million in December of 2014. This page provides - Maldives Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Mongolia increased to 11429391.80 MNT Million in December from 9200236.50 MNT Million in November of 2019. Fiscal Expenditure in Mongolia averaged 1991891.83 MNT Million from 2000 until 2019, reaching an all time high of 11429391.80 MNT Million in December of 2019 and a record low of 21398.70 MNT Million in January of 2000. This page provides - Mongolia Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in El Salvador increased to 5557 USD Million in 2019 from 5301 USD Million in 2018. Fiscal Expenditure in El Salvador averaged 2791.13 USD Million from 1990 until 2019, reaching an all time high of 5557 USD Million in 2019 and a record low of 642.50 USD Million in 1990. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - El Salvador Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Tajikistan increased to 20852 TJS Million in November from 19106.70 TJS Million in October of 2019. Fiscal Expenditure in Tajikistan averaged 3649.16 TJS Million from 2000 until 2019, reaching an all time high of 20852 TJS Million in November of 2019 and a record low of 5.30 TJS Million in January of 2000. This page provides - Tajikistan Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Malawi increased to 169.10 MWK Billion in December from 109.90 MWK Billion in November of 2019. Fiscal Expenditure in Malawi averaged 96.70 MWK Billion from 2012 until 2019, reaching an all time high of 169.10 MWK Billion in December of 2019 and a record low of 28.84 MWK Billion in June of 2012. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Malawi Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Nigeria decreased to 2074.46 NGN Billion in the fourth quarter of 2019 from 2414.03 NGN Billion in the third quarter of 2019. Fiscal Expenditure in Nigeria averaged 1369.56 NGN Billion from 2010 until 2019, reaching an all time high of 2514.02 NGN Billion in the first quarter of 2019 and a record low of 743.65 NGN Billion in the first quarter of 2011. This page provides - Nigeria Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Fiscal Expenditure in Estonia increased to 1276.48 EUR Million in December from 864.24 EUR Million in November of 2019. Fiscal Expenditure in Estonia averaged 358.04 EUR Million from 1993 until 2019, reaching an all time high of 1276.48 EUR Million in December of 2019 and a record low of 11.18 EUR Million in January of 1993. Fiscal expenditure refers to the sum of government expenses, including spending on goods and services, investment and transfer payments like social security and unemployment benefits. Fiscal expenditure are part of government budget balance calculation. This page provides - Estonia Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.