China should shift fiscal stimulus to consumption from investment, says IMF official | Malay Mail

Wednesday, 14 Oct 2020 10:22 PM MYT

WASHINGTON, Oct 14 — China should shift the emphasis of its coronavirus fiscal stimulus efforts away from investment focused on goods output towards supporting consumption and broadening its social safety net, a senior International Monetary Fund official said today. “Households can be supported by a broadening of the safety net. And the emphasis could move away from investment,” Gaspar told an online news conference during IMF and World Bank annual meetings.

By contrast, the United States will see a 12-percentage point increase in its 2020 fiscal deficit as a share of GDP, to nearly 19 per cent, the report showed.

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