The global economy is projected to grow 5.5 percent in 2021 and 4.2 percent in 2022, according to the International Monetary Fund (IMF).
In it its latest World Economic Outlook (WEO) releases Tuesday, the 2021 forecast is revised up 0.3 percentage point compared to the previous forecast “reflecting expectations of a vaccine-powered strengthening of activity later in the year and additional policy support in a few large economies.” It indicated that the global growth contraction for 2020 is estimated at -3.5 percent, 0.9 percentage point higher than projected in the previous forecast.
As for the advanced economies, the US growth is estimated to 5.1 percent in 2021, the Euro Area 4.2 percent, China 8.1 percent and the Middle East and Central Asia 3.0 percent.
