One-size-fits-all European Union fiscal rules are constraining badly needed infrastructure investment in Ireland and creating an increasing problem for the bloc’s fastest growing economy, its finance minister said on Friday. Michael Noonan asked his euro zone counterparts on Monday to grant Ireland flexibility within the rules to ramp up capital spending, which ground to a halt during the financial crisis. Source Euronews
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Singapore stands ready to partner China to jointly build the Belt and Road Initiative, Singapore’s Minister for National Development and Second Minister for Finance Lawrence Wong said on Tuesday. Source: China Daily
Cambodian authorities have signed an $880 million contract with Chinese companies, allowing the latter to build a new international airport in Siem Reap next year. Source: People’s Daily
The International Monetary Fund increased its estimate for China’s average annual growth rate through 2020, while warning that it would come at the cost of rising debt that increases medium-term risks to growth. China’s economy will expand at an average pace of 6.4% annually from 2017 through 2020. Source: China Economic Review