Defying fiscal deficits

Government budgets are under pressure as the recession and economic crisis continue to take a toll. The crisis has pushed public deficits and debt to unsustainable levels for many countries, OECD experts say, as weak economic activity causes tax revenues to dwindle, forcing crisis-embattled governments to borrow in a cautious market to pay for services and welfare, and in some cases, still limping banking sectors.

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