Budget CHALLENGES IN 2017-18
- World economy faces considerable uncertainty, in the aftermath of major economic and political developments during the last year
- The US Federal Reserve's , intention to increase policy rates in 2017, may lead to lower capital inflows and higher outflows from the emerging economies
- Uncertainty around commodity prices, especially that of crude oil, has implications for the fiscal situation of emerging economies
- Signs of retreat from globalisation of goods, services and people, as pressures for protectionism are building up
