This page shows the projected fiscal balance of G4 and Asian economies for 2020 to 2022. The COVID-19 pandemic forced governments around the world to aggressively cut taxes and spend to support households and businesses. This has led to sizeable fiscal deficits around the world. As the pandemic comes under better control, governments are expected to pull back on their fiscal deficits. This chart also shows that most Asian governments have been less generous with fiscal spending compared with the U.S. This could be partly due to the prominent role of state-owned companies in some of these economies, who provided some additional support to businesses and employees that is not accounted for in the governments' budgets.