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IMF calls G20 Countries to increase Government Spending to boost Global Growth

  • IMF calls G20 Countries to increase Government Spending to boost Global Growth

    International Monetary Fund (IMF) has asked the G20 countries to increase government spending, especially in infrastructure, to boost global growth as the same has remained weak and the situation worsened after UK's deciding to leave European Union. While expecting a slowdown of world economy, IMF has already lowered their global growth forecast for current and upcoming fiscals to 3.1 per cent and 3.5 per cent respectively. The IMF reports says that “advanced economies like Germany and the United States” should increase “public spending into infrastructure investment” as ultra-low interest rates have reached limits.