The Fiscal Monitor surveys and analyzes the latest public finance developments, it updates fiscal implications of the crisis and medium-term fiscal projections, and assesses policies to put public finances on a sustainable footing. The global economy is undergoing major transformations,including a productivity slowdown, technological change, and global economic integration. This creates new demands for public policies to facilitate these transformations, while cushioning the effect on those negatively affected. Fiscal policy has a greater role to play in fostering sustainable and inclusive growth. At the same time, the high degree of uncertainty surrounding the outlook as well as stretched government balance sheets require a better understanding and management of risks. Fiscal policy therefore has the difficult task of achieving more and better in a more constrained environment.