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This study examines the association between fiscal sustainability indicators and Egypt’s economic growth from 1980 to 2018. Fiscal sustainability refers to a government’s ability to generate sufficient revenue to cover its costs and debt obligations in the long run without excessive borrowing or money creation. Egypt’s economic growth has slowed, raising questions about fiscal sustainability. This study aimed to analyze the dynamic relationship between fiscal sustainability indicators (government revenue, expenditure, external debt) and economic growth in Egypt. The autoregressive distributed lag (ARDL) bounds testing approach and unrestricted error correction model were applied to annual data from 1980 to 2018. A dynamic link was found between fiscal sustainability indicators and economic growth. Government expenditure and external debt significantly impacted economic expansion in the long term, while government revenue did not. Fiscal sustainability, measured by growth in total government expenses, external debt obligations, and revenue, significantly influences Egypt’s economic growth. Prudent fiscal management is crucial for sustained economic development. Policymakers should focus on controlling government spending, limiting external debt, and improving revenue generation to promote long-term economic growth in Egypt. Fiscal sustainability must balance critical investments in public services. Carefully managing fiscal deficits is key to unleashing Egypt’s economic potential. This study provides valuable insights into the connection between fiscal policy and economic growth in Egypt, informing policymakers’ decisions. Plain Language Summary Economic development potential in Egypt The research examines the relationship between long-term fiscal policy and economic growth. We used data from 1980 until 2018 to determine Egypt’s capacity to cover its spending. The slowdown of economic development is a major reason for this research. The development trend of a country is an important signal of its further potential of being sustainable. Added value is crucial for ensuring equitable behavior across generations. Multiplying debts instead will diminish the capacity of the next generation to benefit from the same conditions as the generation before. Policymakers should decide on the implementation of strategic goals for this to happen. Our results highlight a dynamic link between fiscal sustainability indicators and economic growth. In the long term, government expenditure and external debt significantly impact economic expansion. Government revenue has a different impact. Prudent fiscal management is crucial for sustained development. Policymakers should focus on controlling government spending, limiting external debt, and improving revenue generation to promote long-term economic growth in Egypt. Additionally, fiscal sustainability must balance critical investments in public services. Carefully managing fiscal deficits is key to unleashing Egypt’s economic potential.

China's economic performance over the past 30 years has been remarkable. The report is based on the strong conviction that China has the potential to become a modern, harmonious, and creative high income society by 2030. The report proposes six strategic directions for China's new development strategy: 1) rethinking the role of the state and the private sector to encourage increased competition in the economy; 2) encouraging innovation and adopting an open innovation system with links to global research and development networks; 3) looking to green development as a significant new growth opportunity; 4) promoting equality of opportunity and social protection for all; 5) strengthening the fiscal system and improving fiscal sustainability; and 6) ensuring that China, as an international stakeholder, continues its integration with global markets.

Do governments satisfy an intertemporal budget constraint? This paper uses a panel of U.S. state data from 1978-1998 to empirically investigate whether primary surpluses respond to rising debt/GDP ratios. Instead of relying solely on the time-series characteristics of various data series, the paper focuses on the response of primary surpluses when cyclical fluctuations in output and government spending are explicitly considered. Results suggest no surplus response to the accumulation of debt, whether or not cyclical fluctuations are controlled for, in contrast to similar studies done using U.S. federal government data.

The paper substantiates the possibility and the necessity to introduce the notion of «fiscal sustainability». Fiscal sustainability is the company’s ability to meet its tax obligations and to function normally according to its tasks, despite the influence of economic changes in external and internal environment. The investigation of the introduced category allowed making the following conclusions. Firstly, fiscal sustainability and financial sustainability are interdependent . Secondly, we defined the exogeneous and endogenous factors, which cause changements in the state of fiscal sustainability and predetermine its «contraction» and «expansion». Thirdly, the category of fiscal sustainability has local and global characteristics. And last, fiscal sustainability needs temporal characteristics: operational, tactical, and strategic ones, and quantitative representation. We propose the indicators for assessing the fiscal sustainability of an enterprise. The quantitative assessment of fiscal sustainability can be represented by the following indicators: the coverage ratio of tax payments; structural ratio of tax debt and paid tax payments; as well as the rate of tax debt growth. We present models for calculating these indicators values, and substantiate the possibility of their performance management. We assess planned and actual values for fiscal sustainability on the basis of the developed system of indicators, and then level the resulting deviations. This task is of a complex nature, covering all phases of the management of. Fiscal sustainability can be measured for different time periods. Therefore, the system of fiscal sustainability management refers to strategic, tactical and operational levels. The application of the research results will provide to the enterprises an opportunity to meet their tax obligations.

The existence of a chronic budget deficit, along with an unprecedented increase in Egypt's foreign debt over the past ten years, has raised growing concerns about the fiscal sustainability of Egypt. This paper examines Egypt's fiscal sustainability under various hypothetical scenarios, including; (i) the scenario where a predetermined debt-to-GDP ratio of 60% is maintained, (ii) the scenario in which the country's budget deficit transforms into a surplus, and (iii) the scenario of an Islamic rule in which the negative real interest rate is adjusted to zero. The study examines the fiscal sustainability of Egypt using the framework proposed by Enzo and V. Hugo (2003). The framework assumes a targeted debt-to-GDP ratio and suggests that the government should respond when the actual debt-to-GDP ratio exceeds the targeted ratio. The main findings of the study are as follows; (i) Egypt's current fiscal position of debt is unsustainable. (ii) Setting a target for the debt-to-GDP ratio of 60% does not improve fiscal sustainability. (iii) Fiscal sustainability can be realized by transforming the existing budget deficit into a surplus. (iv) Fiscal sustainability is attainable with a predetermined debt-to-GDP ratio of 60% and a corresponding targeted primary deficit-to-GDP ratio of 4% to 5%. (v) Fiscal sustainability can be attained with a targeted debt-to-GDP ratio of 60% and a corresponding targeted primary deficit-to-GDP ratio of 2.5%, provided that an Islamic rule of a zero limit on the real interest rate is implemented.

A zero net domestic financing (NDF) target has served Tanzania well in recent years, contributing to prudent expenditure policy, improved fiscal sustainability, and macroeconomic stability. Moving to a more flexible fiscal policy, however, may serve Tanzania better. The \"diamond rule\" proposed in this paper incorporates a permanent hard ceiling on debt and annual benchmark limits on NDF, expenditure growth, and nonconcessional external financing. This rule would provide flexibility for countercyclical policy and help define the fiscal space for infrastructure spending that is consistent with longrun fiscal sustainability. An illustrative simulation shows that Tanzania has considerable fiscal space for development spending.

This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges