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MACROECONOMICS
resources to provide all public services well. The provision of public and merit
goods could be privately provided and the degree of public funding of this
provision could be worked out in the interests of promoting equity. Third,
privatizations are often delayed because of the perceived low prices received
from privatization. However, if failure to privatize and obtain resources
results in fiscal precariousness and inflationary pressures then even lower
prices may be obtained from a delayed privatization programme.
2.
Maintenance and investment expenditures
on social and economic infra-
structure—The fiscal problem ...
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