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Chapter 3 discusses the financial challenges faced by developing countries, particularly focusing on budget deficits, inflation, and the structural weaknesses in fiscal systems. It highlights the difficulties in revenue generation due to reliance on primary product exports and the need for tax reform and improved budgetary planning. The chapter also addresses the burdens of short-term foreign debt and the importance of stabilizing fiscal policies for sustainable economic growth.

Author

vuminhanh1011

Language

EN