But if the best way to reduce sovereign over-indebtedness is to achieve higher nominal GDP growth (the combination of real growth and inflation), cutting investment – a key ingredient in a pro-growth-strategy – is not a sound approach. Instead, budget rules should segregate public investment, thereby facilitating a differential response in fiscal consolidation.
但如果降低主权债务过重的最佳办法是实现更高的名义GDP增长（真实增长与通胀之和），那么减少投资——促增长战略的关键要素——绝非可靠方法。相反，预算规则必须将公共投资排除在外，从而促进不同的财政整合应对措施。