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What is fiscal consolidation? (30 words)
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Fiscal consolidation is an attempt to reduce government’s debt accumulation by balancing the budget. It can be done by increasing tax and reducing spending or the combination of two But increasing tax rate may reduce tax revenue since it may lead to less tax generating activities
Fiscal consolidation is an attempt to reduce government’s debt accumulation by balancing the budget. It can be done by increasing tax and reducing spending or the combination of two But increasing tax rate may reduce tax revenue since it may lead to less tax generating activities