IMF urges Italy, France to spend less, Germany to loosen purse strings
WASHINGTON – Italy and France should cut spending faster than they currently plan to keep debt under control while Germany should loosen its own purse strings to revive growth, the International Monetary Fund said on Friday.
"Advanced European economies with relatively high debt levels should implement more significant and front-loaded fiscal consolidation than envisaged under the authorities' current policies ," the IMF said in its economic outlook for Europe. Germany, by contrast, had "fiscal space" to invest in digitalisation and public infrastructure and to support companies' research and development, Kammer said. Earlier this week, the IMF cut its growth forecasts for Europe's largest economy.
Paris has phased out many of its cost-of-living subsidies, but a tax break on electricity bills used to cap power prices has only partially been removed and will only be fully phased out in February 2025.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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