By Seyoon Kim
Nov. 17 (Bloomberg) -- World Bank chief economist Justin Lin said the global recovery is still “fragile” and governments should maintain fiscal stimulus measures.
“It’s important to discuss the quality of the fiscal stimulus instead of an exit,” Lin told reporters in Seoul. Measures should be withdrawn when “we see private sector investment resume as well as unemployment decline to an acceptable level. So far I think we’re still in a fragile state of the economy and maintaining fiscal stimulus is important.”
Leaders of the 21-member Asia-Pacific Economic Cooperation group, including U.S. President Barack Obama and his Chinese counterpart, Hu Jintao, pledged in Singapore two days ago to maintain stimulus policies until a “durable” economic recovery is secure.
Lin said China’s economy may grow at an annual pace of between 8 percent and 10 percent in coming years. He declined to comment on China’s currency policy.
To contact the reporter on this story: Seyoon Kim in Seoul at skim7@bloomberg.net
Posts
No comments:
Post a Comment