Common use of Economic Governance Clause in Contracts

Economic Governance. 1. The Parties shall improve macro-economic stability and promote structural reforms and appropriate economic, fiscal and monetary policies that create the much-needed space for investment expansion, job creation and private sector development, and strengthen resilience to economic shocks. They shall facilitate the process of economic reform by improving shared understanding and exchange of information on the fundamentals of their economies and the formulation and implementation of economic policies. 2. The Parties agree to support the principles of good economic governance, adopt measures to improve public finance management, work towards public debt sustainability, strengthen national and regional statistical systems and regional, multilateral surveillance mechanisms, and promote transparent budget execution with public access to documents, effective control systems and a competitive, transparent and accountable public procurement system.

Economic Governance. 1. The Parties shall improve macro-economic macro‑economic stability and promote structural reforms and appropriate economic, fiscal and monetary policies that create the much-needed much‑needed space for investment expansion, job creation and private sector development, and strengthen resilience to economic shocks. They shall facilitate the process of economic reform by improving shared understanding and exchange of information on the fundamentals of their economies and the formulation and implementation of economic policies. 2. The Parties agree to support the principles of good economic governance, adopt measures to improve public finance management, work towards public debt sustainability, strengthen national and regional statistical systems and regional, multilateral surveillance mechanisms, and promote transparent budget execution with public access to documents, effective control systems and a competitive, transparent and accountable public procurement system.