The International Monetary Fund (IMF) on November 2 called on the United States, the United Kingdom and other countries, the major economies of the group of 20, to continue to increase the scale of fiscal spending in response to the epidemic that has not yet ended.
An article entitled "continue spending before the crisis is over" published by senior IMF officials on its official website warned that early withdrawal of financial support in the context of persistently high unemployment rate will "cause further harm to people's livelihood and increase the possibility of bankruptcy on a large scale, thus endangering the economic recovery."
The article points out that the G20 and emerging market countries have taken rapid and unprecedented actions to avoid a more serious crisis, with the G20 countries alone providing 11 trillion US dollars of support.
The IMF said the epidemic continues to spread, but most of the financial support is coming due, with cash subsidies to families, tax delays and temporary loans to businesses either due or will mature at the end of the year.
The article said that it is expected that this year's deficit will expand by 10% of GDP in the economy, and the deficit will be reduced by about 5% of GDP in 2021, mainly due to the massive cancellation of rescue measures.