Infrastructure policy lost touch with economic reality ...Middle East

That means that governments are now being forced to cut back on infrastructure that is supposed to help reverse the slump in the economy’s supply-side productivity. Yet, just as it was hard to find shovel-ready projects during the global financial crisis, it won’t be easy to dial down an infrastructure boom that has not been put through sufficient scrutiny in the first place, including by previous federal Coalition governments. Before the era of privatisation and financial deregulation, the federal government sought to discipline state government capital works borrowings through the Loan Council. In the modern era, governments were supposed to be disciplined by credit rating agencies and b

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Last updated : 13 Nov 2023 clock 09:17 PM

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Infrastructure policy lost touch with economic reality ...Middle East

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