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Browsing: governments increasing jobs
Governments should increase public investments to boost their economies after the massive shock from the Covid-19 according to the International Monetary Fund (IMF).
In June the IMF predicted a contraction of 4.9 per cent in global GDP for 2020 but the fall could be even higher as many governments are now dealing with the second wave of infections. The IMF is now calling on governments to increase public investments so as to aid economic recovery and create jobs.
“For advanced and emerging market economies … Increasing public investment by 1 per cent of GDP in these economies would create 7 million jobs directly, and between 20 million and 33 million jobs overall when considering the indirect macroeconomic effects,” the fund said in its latest Fiscal Monitor.
IMF said that in the period of high uncertainty, increasing public investment by 1 per cent of GDP could strengthen confidence in the recovery …