This publication is a survey by the IMF staff, published twice a year, in the spring and fall, as part of the IMF’s World Economic and Financial Surveys. The October 2017 issue analyzes the latest public finance developments, updates medium-term fiscal projections, and assesses policies aimed at placing public finances on a sustainable footing. An analytical chapter examines the redistributive role of fiscal policies over recent decades in reducing income inequality, underscoring the importance of appropriate design to minimize any efficiency costs.