Frankfurt: The vice president of the European Central Bank said yesterday that Donalwd Trump's spending plans risked inflating the US government's budgetary deficit and spreading worries on markets.
The United States already has a public debt ratio close to 100 percent of gross domestic product, and a spending deficit close to seven percent, Luis de Guindos (pictured) said at a banking conference in Frankfurt.
"The elected president (Trump) has promised to reduce taxes and perhaps not to cut down on public spending," de Guindos said.
The plan could lead the deficit to grow and "create concerns in markets", de Guindos said.
Since sealing victory in the presidential election earlier this month, Trump has yet to announce his nominee for treasury secretary.
The president-elect has however tapped the world's richest man Elon Musk and businessman Vivek Ramaswamy to lead a newly formed department of government efficiency.
