After Covid-19: what next for fiscal terms?
As the world begins to stagger out of its collective lockdown, governments must develop policies that will guide their economies out of recession. Government debt is spiralling in many countries while sources of tax revenue have shrunk. There will be no easy fixes. Policies could be harmonised to promote the global decarbonisation goal. Countries with minimal oil and gas resources will be keen to replace imports with indigenous renewable energy sources. But countries with significant oil and gas resources need more complex, conflicting discussions. Three key factors will dominate the discussions and there will be differentiators in their responses.