1945

Public savings and deficit financing

The post-war growth of the public sector in Latin America has been accompanied by accumulated budget deficits which in almost all countries have tended to exceed occasional surpluses and which in some have had profound inflationary repercussions. This trend is a result of the disparity in the growth of government revenue and expenditure. That of fiscal revenue has been irregular and strongly influenced by fluctuations in exports and in the level of economic activity; government expenditure has tended to expand more steadily throughout most of the post-war period.

Related Subject(s): Economic and Social Development
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