IMF official suggests public sector needs to lead on infrastructure
Tokyo
BOLD plans for public infrastructure investment outlined by US president-elect Donald Trump, which are expected to be copied in other advanced economies such as Britain and Japan, have received strong endorsement from a senior official at the International Monetary Fund (IMF).
"Public investment is an important catalyst for growth," said recently appointed IMF deputy managing director Tao Zhang during a speech in which he challenged the orthodoxy of recent decades, that the main thrust of infrastructure investment should come from the private sector.
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