What specific fiscal policy actions does this economy need?
1. Increase government spending on infrastructure projects to stimulate growth, create jobs, and improve productivity.
2. Implement targeted tax cuts for businesses to encourage investment and innovation.
3. Introduce measures to reduce income inequality, such as increasing the minimum wage or expanding social welfare programs.
4. Address the national debt by implementing fiscal consolidation measures, such as reducing government spending or increasing taxes.
5. Provide support for struggling industries or regions through targeted fiscal policies, such as subsidies or tax incentives.
6. Implement policies to promote sustainable economic growth, such as investing in clean energy technologies or supporting small businesses.
7. Improve the efficiency and effectiveness of government spending through measures such as reducing waste and improving transparency.
8. Coordinate fiscal policies with monetary policies to ensure a balanced and stable economic environment.