According to ICAEW report, the region's overall economic outlook looks positive this year and in 2019, thanks to the rising oil prices (forecast at $67 per barrel), expansionary fiscal policy
and relative improvements in the overall security conditions.
7 per cent last year, underpinned by an expansionary fiscal policy
and recovery in oil prices.
He further said Botswana was among the countries that managed to withstand the impact of the 2008/2009 global economic and financial crisis by maintaining an expansionary fiscal policy
stance, which led to government saving many jobs within the public and private sectors.
The deficit ceiling was part of the administration's expansionary fiscal policy
The difference in fiscal policy responses is even more pronounced: countries with low debt-to-GDP ratios typically engage in aggressively expansionary fiscal policy
after a crisis, while those without such space usually pursue highly contractionary policy.
CY18 is an election year and the government will pursue an expansionary fiscal policy
Given the expansionary fiscal policy
and strong investment growth, a rate hike is probably warranted to prevent overheating risks.
The Turkish economy rebounded in the first half of 2017 underpinned by expansionary fiscal policy
, growing by five per cent year-on-year according to the latest official figures based on revised national accounts.
4 percent next year, underlining expansionary fiscal policy
and unanticipated external demand helped China exceed expectations in the first half of 2017.
The expansionary fiscal policy
, highlighted by the increase in the planned deficit from 2 to 3 percent of GDP in the medium-term, has made the heavy investments on our spending priorities, particularly infrastructure and human resource development, possible.
In the Philippines, expansionary fiscal policy
has boosted capital formation, while robust remittances, credit growth, and low inflation have supported private consumption,' the World Bank said.
Despite some worries on housing markets, economic growth is projected to increase in 2017, driven by expansionary fiscal policy
, household wealth gains and a resumption in business investment, in particular in the resource sector following the rebound in commodity prices.