Challenges in fiscal consolidation process


  • Business
  • Saturday, 13 Sep 2003

THE Government was able to strike a balance between sustaining growth and consolidating its fiscal position by financing the bulk of its latest stimulus package through off-budget sources.  

In fact, since the Asian financial crisis, the country had adopted an expansionary fiscal stance to stimulate economic activity to compensate for the lacklustre performance of the private sector in order to sustain the growth momentum.  

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