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How to Adjust to a Large Fall in Commodity Prices
Mr.Paulo A MedasMs.Veronique SalinsMr.Jeff Danforth
出版International Monetary Fund, 2016-09-27
主題Business & Economics / Economics / MacroeconomicsBusiness & Economics / Public FinanceNature / Natural Resources
ISBN14755360629781475536065
URLhttp://books.google.com.hk/books?id=YJkYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋Resource-rich countries have to manage highly volatile commodity revenues. In periods of revenue booms there is a tendency for large spending scale-ups. When facing large and persistent reductions in commodity prices, some of these countries will need to adjust their budgets to the new reality. In many cases, overall surpluses turn into large fiscal deficits and borrowing costs tend to rise with the fall in commodity prices. This note discusses how to undertake large fiscal adjustments, which often tend to be protracted and with long-lasting impacts on growth. Consequently, the note also highlights how to better prepare for future booms and busts in commodity prices.