"The more the better'' often is the motto of fiscal policy in crisis management. Which expenditures contribute to long-term goals and which, at worst, create burdens for the future is of secondary importance. Such differences in the quality of public finances, however, offer the starting point for improving governments’ performance and resilience without undermining the intergenerational sustainability of public finances. In FiFo Discussion Paper 22-2, Michael Thöne reviews the concept of the "Quality of Public Finances" (GPF) and discusses its contributions for the 2020s policies.

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