fiscal stance

fiscal stance

the government's underlying position in applying FISCAL POLICY, that is, whether it plans to match its expenditure and taxation revenues (a planned BALANCED BUDGET) or deliberately plans to spend more than it expects to receive in taxation revenues (a planned BUDGET DEFICIT), or deliberately plans to spend less than it receives in taxation revenues (a planned BUDGET SURPLUS). This represents the government's ‘discretionary’ fiscal policy Its actual budgetary position, however, can deviate from its fiscal stance insofar as, for example, recession will cause taxable incomes and expenditures to fall below expected levels and unemployment and other social security payments to increase above the expected level. Thus, without any actual change in the government's fiscal stance and tax rates set, the government's budget position and borrowing requirements can vary with the level of economic activity See PUBLIC SECTOR BORROWING REQUIREMENT.
References in periodicals archive ?
The sizeable fiscal consolidation efforts of the past three years, with more emphasis recently on nonoil revenue measures (including the introduction of the VAT), should put the fiscal stance on a more sustainable footing over the medium term," said Iradian.
The US is the most indebted 'AAA' sovereign and was already running the loosest fiscal stance before the tax reform.
In addition, emphasis could be placed on better incentives and coordination in the area of tax revenue mobilisation and overall fiscal stance across all layers of government.
Summary: Expansionary spending plan hints at looser fiscal stance
After the strong fiscal consolidation efforts realised in recent years, the government's 2017-19 medium term fiscal plan assumes a broadly neutral fiscal stance, with a slight deterioration in the general government budget balance pencilled in for 2018".
Early and decisive action to ease the fiscal stance would facilitate a rebalancing of the policy mix.
The national fiscal stance can hardly be described as tight.
Demand for capital goods and raw materials are mainly influenced by the fiscal stance rather than by the REER (real effective exchange rate), it said.
Economic growth is expected to increase gradually in the medium term as the fiscal stance is put on a sustainable path.
The World Bank also enjoined the Philippines and Thailand to adopt an expansionary fiscal stance in the short term, alongside policies aimed at a sustainable medium-term fiscal framework.
NEW DELHI, Mar 13 (KUNA) -- International Monetary Fund (IMF) Managing Director Christine Lagarde on Sunday appreciated the Indian fiscal stance calling it appropriate and sensible and promised to carry out economic reforms according to the demands of the Indian leadership.