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More Stimulus Than the GFC but Is It Enough?

Marina Stefani, Director, Fitch Ratings' Economics Team

12-Jun-20 07:30

More Stimulus Than the GFC but Is It Enough?

According to Fitch Ratings, aggregate direct fiscal stimulus measures for the “Fitch 20” countries, such as the US, UK and Australia, have totalled over $5 trillion, which is 7% of those countries’ 2019 GDP. This outweighs the scale after the global financial crisis, when the advanced economies undertook a fiscal easing of only 3% to 4% of GDP.

That said, is the global response enough to ward off the much feared global recession which some have said could be worse than the Great Depression of the 1930s?

Produced by: Wong Shou Ning, Dayana Mustak

Presented by: Roshan Kanesan, Noelle Lim, Khoo Hsu Chuang

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Tags:  Penjanastimulus packageUKUSAustraliaGDPMonetary PolicyFiscal PolicyFitch RatingGovernment/Regulatory/Policy MakingEconomy, MarketsPolitics, News, Current Affairs


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