Long-Term Spending Pressures in Europe (IMF Departmental Papers) - Softcover

Inhaltsangabe

European countries face high, rising, and long-lasting spending pressures, underscoring the need for a renewed focus on fiscal policy and comprehensive structural reforms to prepare their economies for the next decades. On top of the existing fiscal burden—reflected in high deficits and debt ratios in several countries, exacerbated by recent shocks and the need for fiscal consolidation—spending pressures in five key areas are imminent and growing in Europe: pensions and health care/long-term care spending driven by population aging, the costs of the climate transition, increased defense spending, and higher government borrowing costs.

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