Governments have more freely loosened the purse strings in response to the economic pain of the COVID-19 pandemic. This page shows the fiscal policy outlook of G4 and Asian economies. A gradual pull back in fiscal stimulus in the next one to two years should be expected as governments act to control ballooning debt. Governments will need to be more selective and smarter when it comes to distributing fiscal resources in the years ahead if it is to have the desired impact on the economy. Tax revenue and social benefits expenses should also react to upcoming economic recovery and reduce deficit.