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Trump Fiscal Policy May Boost World Growth in 2017, 2018

© AP Photo / Evan VucciRepublican presidential candidate Donald Trump smiles during a town hall, Tuesday, Sept. 6, 2016, in Virginia Beach, Va.
Republican presidential candidate Donald Trump smiles during a town hall, Tuesday, Sept. 6, 2016, in Virginia Beach, Va. - Sputnik International
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A new US fiscal program expected to be implemented by the Donald Trump Administration could ease the fiscal policy in the next two years and stimulate world growth, the Organization for Economic Cooperation and Development (OECD) said in a report on Monday.

MOSCOW (Sputnik) — The organization predicts an increase in government consumption and investment, a reform to personal income taxes and corporate taxes that reduce revenues would be among fiscal measures implemented by US President-elect Donald Trump.

"In the aftermath of the US elections, there is widespread expectation of a significant change in direction for macroeconomic policy… it seems likely that there will be some easing of fiscal policy over the next two years, with implications for growth prospects and inflation in the United States and other economies," the Global Economic Outlook report read.

The US fiscal stimulus is expected to boost global GDP growth by around 0.1 percentage point to 3.3 percent in 2017 and 0.3 percentage point to 3.6 percent in 2018, figures which would be largely unchanged in the absence of the US elections aftermath, the OECD added.

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