Analysis of Budget 2012: A Long-Term View


This column takes a long-term view in analysing the 2012 budget, which is set to see spending of $193 billion in the next fiscal year. In the Development Watch columns it is natural to focus on trends and policies that are transformative – thus making the distinction between short-term stabilisation and long-term growth. Stabilisation measures include efforts such as prudent fiscal and monetary policies. The target of these policies includes maintaining stable prices and exchange rate. Fiscal policy refers to tax and expenditure policies. When we subtract total government expenditures from total revenues we obtain either a fiscal deficit or surplus (the fiscal balance). At the core of fiscal policy is maintaining a  …..To continue reading, login or subscribe now.

Join the Conversation

After you comment, click Post. If you're not already logged in you will be asked to log in or register.

The Comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit/delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity. We moderate ALL comments, so your comment will not be published until it has been reviewed by a moderator.