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Reducing fiscal deficit vital for economic stability and growth
![Reducing fiscal deficit vital for economic stability and growth Reducing fiscal deficit vital for economic stability and growth](http://www.sundaytimes.lk/130224/uploads/280_181_Econ-Cartoon3.jpg)
Containing the fiscal deficit to 5 percent of GDP is vital to achieve economic stability and growth, prevent the public debt from escalating to an unsustainable level and avert a balance of payments crisis. Today we explore the reasons why successive governments have found it difficult to contain the fiscal deficit to the announced targets. [...]