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It has weathered the global downturn relatively well, with a healthy fiscal surplus and annual GDP growth bottoming out at 1.4% in 2001.
To chip away at the national debt and sustain a healthy fiscal outlook into the deep future, fundamental reform of Social Security and Medicare will be needed, and everything will have to be on the table.
With the economy on the skids and Wall Street revenue weak, Mayor Michael Bloomberg unveiled a budget on Thursday that should keep the city on a healthy fiscal course — if everyone shows proper discipline.
With a healthy fiscal position and sound macroeconomic management, helped by regional reserve pooling facilities, known as the Chiang Mai Initiative, agreed to in 2000 after the Asian crisis, "the region is in a much better position to weather a new crisis than Europe is," Mr. Song said.
When you adopt healthy fiscal habits, you're more likely to create wealth.
Such conditions include stable macroeconomic policies, healthy fiscal policy, robust bank regulations, and strong legal protection of property rights.
Similar(52)
Happy healthy Christmas.
I'm healthy this year.
But it'll be healthy next week".
If anything, he feels the place is less healthy today.
"My whole thing is to be healthy this year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com