Aussie PM Turnbull backs IMF call for infrastructure spending

Fiscalism is in the air and the era of unprecedented central bank domination may be coming to an end.

As per Bloomberg report, “The IMF and Reserve Bank of Australia have urged the government to build roads, railways and ports that will boost productivity, increase hiring and stimulate the economy.”

PM Turnbull agreed with the International Monetary Fund’s call for more spending on infrastructure, although it would be a tight rope walk given the major ratings agencies are closely tracking the government’s budget deficit.