ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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fiscal deficit will serve to push up the rate of saving in the economy; it will also, it is argued, contribute to improving the balance of payments. An improvement of the current account of the balance of payments requires a reduction in the savings-investment gap in the economy and since the latter is largely attributable to the deterioration of budgetary savings, a turnaround in the government's fiscal position will help the' country's external balance position.

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