IMF Improves Outlook for Global Economy in 2021

The International Monetary Fund (IMF) is now more optimistic about the recovery of the global economy, as shown by the latest World Economic Outlook released on Tuesday.

The IMF sees the global economy growing by 5.5% in 2021, compared with its expectations in October of 5.2% growth.

As for 2022, the IMF is expecting the global economy to register a growth rate of 4.2%.

The optimism is supported by positive expectations regarding the rollout of Coronavirus vaccines, however, the IMF still sees uncertainty resulting from the pandemic and the new variants of the novel virus.

As for the Eurozone, the IMF has lowered its growth expectations for the area by 1% to 4.2%, while the United States gross domestic product (GDP) is now seeing rising by an additional 2% in 2021 with a forecasted growth rate of 5.1%.

Meanwhile, the Chinese economy is seeing growing by more than 8% in 2021.