Fiscal space shrinking in emerging economies, limiting stimulus potential.
The article discusses how emerging and developing economies managed their finances before and after the 2008-2009 Great Recession. They saved money before the crisis, used it for stimulus during the crisis, and now have less money saved up. These economies have also become better at adjusting their spending based on the economic situation, especially those with more money saved. This shows that having money saved up is important for governments to spend wisely during tough times.