Countries investung one per cent of Gross Domestic Product (GDP) in the public will boost overall economic growth by 2.7 per cent in two years, the International Monetary Fund has said. "Maintaining the quality of investment projects is essential. It is however wary of this strategy as a way of stimulating economic growth, saying that fast increases in public investment also carry the risk of facilitating corruption. The World Bank expects global output to shrink 5.2 per cent this year, while the IMF sees it contracting 4.9 per cent. The lender is expected to release new global economic outlook that will capture the overall effect of the pandemic so far.

Source: The Star October 07, 2020 00:56 UTC