Fiscal Monitor, April 2015: Now Is the Time: Fiscal Policies for Sustainable Growth

Fiscal policy continues to play an essential role in building confidence and, where appropriate, sustaining aggregate demand. Countries should seize the moment created by lower oil prices to start the process of energy taxation and energy subsidy reform. Finally, fiscal policy can contribute substantially to macroeconomic stability, through the workings of automatic stabilizers. By doing so, fiscal policy can also unlock significant growth dividends.