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IMF improves forecast for US GDP growth rates in 2021 and 2022

In addition to this, the $1.9 trillion stimulus package proposed by the administration of US President Joe Biden is expected to provide an additional boost to GDP in 2021-2022, the report said

© EPA-EFE/JUSTIN LANE

WASHINGTON, April 6. /TASS/. The International Monetary Fund (IMF) has improved its forecast for the growth rate of US GDP to 6.4% in 2021, and in 2022 - to 3.5%, the IMF said in its report presented on Tuesday.

According to the organization’s estimates, after a decline of 3.5% in 2020, the US GDP will increase by 6.4% (an improvement of 1.3 pp compared to the January forecast) in 2021 and by 3.5% (an improvement of 1 pp compared to the January forecast) in 2022.

In addition to this, the $1.9 trillion stimulus package proposed by the administration of US President Joe Biden is expected to provide an additional boost to GDP in 2021-2022, the report said. According to the IMF, a significant secondary effect will also spread to major US trading partners.

The $1.9 trillion stimulus package previously approved in the United States includes allocating around $400 bln directly to the fight against the coronavirus pandemic. About $1 trillion should be directed to providing assistance to the population, the rest of the funds - to stimulate the economy.

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