IMF Chief Highlights EU's Productivity Lag Behind the US

At the World Economic Forum in Switzerland, International Monetary Fund (IMF) Managing Director Kristalina Georgieva emphasized the urgent need for the European Union to boost its productivity to keep pace with the United States. Georgieva pointed out that the US is leading in productivity due to its dynamic capital markets and tech industry's ability to attract investments.

She advocated for the EU to aggressively open up opportunities for entrepreneurship, deepen its capital markets, and unify its market to enhance competitiveness. Georgieva also highlighted the importance of confidence among European companies, suggesting that a shift in business culture could significantly contribute to closing the productivity gap with the US.