In the World Economic Outlook update, IMF upgraded growth forecast for advanced economy and the whole world in 2021. In a blog post, Gita Gopinath, Economic Counsellor and Director of the Research Department, said, “even with high uncertainty about the path of the pandemic, a way out of this health and economic crisis is increasingly visible.”
“Economies also continue to adapt to new ways of working despite reduced mobility, leading to a stronger-than-anticipated rebound across regions,” she added. “Additional fiscal support in large economies, particularly the United States, has further improved the outlook.”
Global output growth forecast is raised by 0.5% to 6.0% in 2021, and by 0.2% to 4.4% in 2022. US growth is upgraded by 0.8% to 5.1% in 2021, and by 0.5% to 3.6% in 2022. Eurozone growth was raised slightly by 0.2% to 4.4% in 2021, and by 0.2% to 3.8% in 2022. Japan growth was raised by 0.2% to 3.3% in 2021, and by 0.1% to 2.5% in 2022. UK growth was raised by 0.8% to 5.3% in 2021, and by 0.1% to 5.1% in 2022. Canada growth was raised by 1.4% to 5.0% in 2021, and 0.6 to 4.7% in 2022. China growth was raised by 0.3% to 8.4% in 2021, left unchanged at 5.6% in 2022.
