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The fiscal surplus reached almost 9% when the price of copper was high, which allowed for fiscal room when the financial crisis hit.
A prudent government should create fiscal room now to cushion a possible hard landing later.
Even if local debts are understated, China has fiscal room for error.
By the time the economy soured, there was little fiscal room; tightening was required.
All this means that the Bush administration has considerable fiscal room for maneuver.
Given enough time, and enough fiscal room to restart growth, Greece could pay back the refinanced debt in full.
Similar(36)
Ms. Rousseff's position reflects Brazil's fiscal running room, since improvements in tax collection and the earlier surge in the economy helped bolster state finances.
Or she can recognize that only a combination of greater fiscal breathing room and pro-growth reforms — like opening up closed labor markets, breaking up state monopolies and streamlining bureaucracies — can achieve the desired result.
The Republicans have left the Obama Administration considerably less fiscal running room than would be ideal at the outset of a severe recession, and now they intend to complain about the consequences of their own legacy.
By promising most homeowners a $400 rebate on property taxes this year and beyond -- at an annual cost of $250 million -- the mayor is betting that everyone will want to help nurture the city's new fiscal breathing room.
The chancellor said higher than expected tax revenues and lower interest payments on government debt had opened up an extra £27bn of fiscal wriggle room but some sectors are at risk because of manifesto commitments to protect the NHS, pensions, foreign aid, education and defence.
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