OECD: Covid-19 is another reason to boost fiscal stimulus

BRUSSEL: The coronavirus (Covid-19) outbreak presents another reason for nations with fiscal surpluses to boost their spending and support the global economy, the head of the Organisation for Economic Cooperation and Development (OECD) said.

“It’s a call to arms, ” Angel Gurria, secretary general of the OECD, said in an interview with Bloomberg TV in Saudi Arabia. “Look at what’s going on. Already we were in a slowdown, we had trade tensions, investment was suffering. And now we have the coronavirus.”