The need for an Independent Fiscal Institution is stepping up

The need for an Independent Fiscal Institution is stepping up
IFIs independently examine public finances and around 80% of OECD countries have one. (Image: iStock)
Cameron Bagrie
The need for an Independent Fiscal Institution is becoming more pressing.Independent Fiscal Institutions (IFIs) provide independent evaluations on public finances, commentary on fiscal policy and add credibility to the assumptions underpinning fiscal projections.The OECD pointed to research in its latest Economic Survey of New Zealand (NZ), which noted fiscal rules and IFIs could improve “fiscal performance with lower deficits, less optimistic forecasts and less pro-cyclical fiscal policy and that IFIs help with greater compliance with fi...

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