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IMF says there are signs of global economic recovery

First Deputy Managing Director of the International Monetary Fund, Geoffrey Okamoto, said that there are signs the global economy is recovering, even though significant risks remain related to the coronavirus strains.

NEWS IN ENGLISH 21.03.2021, 13:02
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IMF says there are signs of global economic recovery
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According to Okamoto, the IMF will update its January forecast for global growth of 5.5 percent next month to reflect the latest relief package approved in the United States.


"In January, we projected 2021 global growth at 5.5 percent, but prospects of a stronger recovery are emerging – because of additional fiscal stimulus, especially in the U.S., and the prospects of broader vaccination," he said and added:


"We will update our global forecasts in the new World Economic Outlook coming out in early April. However, the global recovery has been incomplete and unequal.


"It is incomplete because, despite a stronger than expected recovery in the second half of 2020, GDP remains well below pre-pandemic trends in most countries. The recovery paths have also been different across countries, as well as across sectors."


European Central Bank President Christine Lagarde also confirmed earlier this week that the $1.9 trillion economic stimulus package will "provide a modest boost" to the economic growth in the Eurozone.
 

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