Global Economy Projected to Expand 6.0 Pct in 2021: IMF

Economy

Washington, April 6 (Jiji Press)--The global economy is expected to grow sharply, by 6.0 pct, this year due to public spending to tackle the novel coronavirus crisis and progress with vaccinations for COVID-19, the International Monetary Fund said Tuesday.

The IMF, in its latest World Economic Outlook report, revised up the global growth projection by 0.5 percentage point from the previous report in January.

It would be the fastest growth since 1980, when the Washington-based body started recording related data.

The cumulative amount of financial support provided by the governments around the world in response to the pandemic has reached 16 trillion dollars, and "a way out of this health and economic crisis is increasingly visible," the IMF said.

Expecting that the United States will continue to drive the global recovery, the IMF revised up the global growth projection for 2022 by 0.2 point to 4.4 pct.

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