The economy needs support

Tue, 19 Jan 2021

The Crown accounts heading into 2021 remain in a solid position to absorb any further covid-19 challenges. Deficit projections of more than $20 billion and net debt at about 50 percent of gross domestic product seem large but are healthy compared to global peers.The economy needs support, which means deficits and more debt.But a fiscal repair job is pending. Eventually, that will require spending restraint, a productivity growth miracle, or higher taxes. We need to keep a close eye on the underlying fiscal trends beyond the operating...

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