Local governments used financing platforms and bank credit to build infrastructure under the stimulus. This expanded local investment capacity but shifted liabilities off-budget and created long-term debt risks, while project decisions remained unevenly accountable to residents.
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Awor den notisia
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Eventonan Relashoná
What was a central criticism of the 2008-09 stimulus model?
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Splikashon
Investment-led stimulus helped growth but created local debt and capacity pressures.
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