Put differently, the
only way to
reduce debt is to allocate the
cost to some sector of the economy, and broadly speaking these sectors are the household sector, the private sector, the state sector, and the various more specialized subsectors within these three — for example households can consist of rich households versus the rest, the state sector can be divided among the central government and the provincial governments, the private sector can consist of SMEs, large corporations,
labor - intensive industries, capital - intensive industries, the export sector, etc..