1945

The goals, priorities and policy contexts in which finance ministries and central banks operate differ across countries, governments and time. Yet some crosscutting themes exist, such as: non-inflationary growth, competitiveness, and financial and fiscal stability. The ability to deliver these goals depends on a society’s productive capacity, or in other words, its total capital stock. Macroeconomic strategies that encourage the efficient development and deployment of capital help create the conditions for global competitiveness, sustained growth and macro stability.

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