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Question 7 Explain the difference between the headline fiscal deficit and the primary fiscal deficit. Which one will be the biggest figure? Explain your reasoning.

Question 7

  1. Explain the difference between the headline fiscal deficit and the primary fiscal deficit. Which one will be the biggest figure? Explain your reasoning. (4marks)
  2. Is it possible for a country to have a headline fiscal deficit and a primary fiscal surplus? Explain your reasoning. (6marks)

[10 marks]

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