Public sector balance sheets bring together the entirety of what the state owns and owes, offering a broader fiscal picture beyond debt and deficits. Once governments understand the size and nature of public assets, they can start managing them more effectively, raising considerable additional revenue. Also, public sector balance sheet analysis allows for better risk management and policymaking. The Fiscal Monitor provides governments the tools to analyse the resilience of public finances. By identifying risks within the balance sheet, governments can act to manage or mitigate those risks early, rather than dealing with the consequences after problems occur. Balance sheet analysis raises the tenor of the policy debate, asking how public wealth can be better used to meet society’s economic and social goals.