IMF lifts 2021 global growth forecast to 6%
The International Monetary Fund (IMF) said on Tuesday it has raised its global growth forecast for 2021 to 6% from the previous expectations of 5.5% growth.
However, the organization noted growth is set to slow to 4.4% in 2022. “So relative to our January forecast, we are upgrading growth to 6% for 2021 and 4.4% for 2022. This reflects the additional fiscal support provided in the United States, vaccination efforts that are going to lead to a strengthening of recovery in the second half of this year, and also the continued resilience of economic activity to the pandemic in many parts of the world,” IMF chief economist Gita Gopinath stated.
According to Gopinath, the projections could be revised downwards in case of an emergence of new COVID-19 variants “that evade the vaccine.” Still, she added that faster vaccination rollout could boost future projections.
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