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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

IMF Warns United States of Mounting Fiscal Burden


Sun 09 Jun 2024 | 07:29 AM
Taarek Refaat

The Financial Times reported on Saturday that Gita Gopinath, First Deputy Managing Director of the International Monetary Fund, urged the United States to reduce its growing fiscal burden, saying that the strong growth of the world's largest economy gives it a "broad" opportunity to rein in spending and raise taxes.

Gobinat said in an interview with the newspaper, “For the United States, we see a wide platform for it to reduce the fiscal deficit, also given the strength of the U.S. economy.”

The International Monetary Fund's comptroller expects the US deficit this year to reach 6.67% of GDP and rise to 7.06% in 2025 - double the 3.5% recorded in 2015.