Fiscal Policy Development

Fiscal policy development involves the government's strategy for managing its budget, which includes adjusting spending and taxation to influence the economy. By increasing spending or cutting taxes, the government can stimulate growth during a recession. Conversely, during times of inflation, it may reduce spending or raise taxes to cool the economy. Fiscal policy aims to promote economic stability, support public services, and achieve long-term growth. It is a key tool for governments to address economic challenges and enhance overall welfare in society.