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Forecast in detail
Publication year - 2021
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12554
Subject(s) - pandemic , covid-19 , government (linguistics) , economics , government spending , macroeconomics , development economics , market economy , medicine , welfare , linguistics , philosophy , disease , pathology , infectious disease (medical specialty)
Following a year of massive government borrowing in 2020–21, the deficit should decline as the economy reopens and emergency support measures are phased out. But that the pandemic may have permanently scarred the economy's supply capacity, and the possibility of long‐running spending pressures arising from Covid, suggest deficits could stay elevated compared to pre‐pandemic levels.