Question: (i) Explain the difference between the headline fiscal deficit and the primary fiscal deficit. Which one will be the biggest figure? Explain your reasoning. (4

(i) Explain the difference between the headline fiscal deficit and the primary fiscal deficit. Which one will be the biggest figure? Explain your reasoning. (4 marks)

(ii) Is it possible for a country to have a headline fiscal deficit and a primary fiscal surplus? Explain your reasoning. (6 marks)

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