Fiscal income will deteriorate even further while the shadow economy will gain in importance. Governments will focus almost exclusively on financing current consumption (wages and pensions), even through accumulation of fresh debt, while capital investments will be substantially cut back.
And, in conjunction with improved fiscal policy, they have facilitated better economic performance in the more recent period and have allowed us to weather the current international financial problems with fewer difficulties than before. Targets should continue to provide a sound foundation for good economic performance and for coping with the international shocks that are bound to hit us from time to time.