Reducing fiscal deficits

Description

Reducing fiscal deficits involves implementing measures to decrease the gap between government expenditures and revenues. This strategy focuses on practical actions such as curbing unnecessary public spending, increasing tax collection efficiency, and reforming subsidies. The primary intent is to ensure fiscal sustainability, restore investor confidence, and prevent excessive public debt accumulation. By addressing structural imbalances, governments can stabilize their economies, maintain essential services, and create a foundation for long-term economic growth.

Implementation

This strategy features in the framework of Agenda 21 as formulated at UNCED (Rio de Janeiro, 1992), now coordinated by the United Nations Commission on Sustainable Development and implemented through national and local authorities.