documented in the study turmoil

As documented in the study, turmoil in global financial markets could affect economic growth, raise debt financing costs, and weaken exchange rates. If this happened, debt could increase by about 8.5 percentage points of GDP by 2029, compared to current projections. Similarly, the study documents that a commodity price shock or a natural disaster could increase public debt by about 6 to 9 percentage points of GDP, respectively, over that horizon The deterioration of public finances and the increase in debt after the end of the commodity price boom in 2013 suggests that existing fiscal frameworks were not strong enough. Effective fiscal frameworks can guide policy choices and offer the resilience and flexibility to deal with unpredictable events สล็อตเว็บตรง