IMF warns: Trump tax bill may exacerbate US fiscal deficit and debt burden issues

BlockBeats News: On July 4th, the International Monetary Fund (IMF) warned that the upcoming Trump tax bill could make the task of reducing fiscal deficits and debt burdens more complex in the coming years. IMF spokesperson Julie Kozack stated that the United States needs to gradually reduce public borrowing in order to begin significantly reducing the debt to GDP ratio, which is also an important criterion for measuring debt sustainability. Kozack said, 'This case seems to contradict the goal of reducing debt in the medium term.' The IMF typically defines' medium term 'as three to five years. According to data from the Congressional Budget Office, the bill will increase the deficit by $3.3 trillion. (Golden Ten)