The latest World Economic Outlook reports a slowdown in global growth with risks remaining tilted to the downside. As new policies slowly come to focus, adjustment to the emerging landscape should be aided with credible, predictable, sustainable actions. Stronger policy frameworks enhance the implementation and credibility of monetary and fiscal policies. Industrial policy can spur higher productivity in targeted sectors, but requires careful targeting to avoid inefficiencies and large fiscal costs, strong institutions, complementary structural reforms, and sound macroeconomic policy.