New government-bond issues have dropped to levels not seen in the past 20 years. Municipal borrowers issued about $140 billion in bonds for new projects last year. Adjusted for inflation, that is 53% lower than in 2006 and 21% lower than in 1996. So far this year, municipalities have borrowed $95.1 billion, about $10 billion more than at this time last year. Experts say austerity measures hinder investment in infrastructure. To meet the needs in the transport, water, energy and telecommunication infrastructures, the United States need to increase the related costs of 0.7% of GDP in the period up to 2030, according to the publication.

 

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