IMF Praises Investment in Infrastructure
The head of the International Monetary Fund Christine Legard said that the plans of new US Administration for additional investment in the US infrastructure will boost America’s economic fortunes.
She blamed negative impacts in the international economy in part on the rise of robots taking jobs.
Christine Legard said Trump’s plan is likely good for the American economy in the short term.
The head of IMF admitted that there will be a negative impact of that policies on the rest of the international economy since they will squeeze international markets.
“That’s a tightening that is going to be difficult on the global economy and for which economies have to prepar”, Legarde said.
President Trump administration plans to invest at least $137.5 billion in over 50 infrastructural projects in North East regions of the USA. Project will be financed by the US budget in cooperation with private business. Administration estimates that projects will create 193,350 direct jobs annually and 241,700 indirect.
Among the proposed projects are reconstruction of railway infrastructure, bridges, critical highway repairs, and locks and dams on rivers.