The IMF says vaccines and tax incentives will help the US economy grow 5.1% this year – its strongest since 1984

The IMF expects the US economy to grow 5.1% in 2021, compared to an earlier forecast of 3.1%. The U.S. economy will recover much faster than expected in 2021 as coronavirus vaccines and fiscal incentives fuel the strongest growth since the 1980s, the International Monetary Fund forecast on Tuesday. The IMF has revised its forecast for US economic growth in 2021 to 5.1%, 2 percentage points above its October forecast. According to the World Bank, this would be its best performance since 1984. In an update to its global economic outlook, the International Economic Development Agency said that “increased activity from vaccines later this year” will boost economies around the world. It raised its growth forecast for the global economy in 2021 by 0.3 percentage points to 5.5%. He indicated that the United States in particular would benefit from the stimulus package passed in December, which amounted to $ 900 billion. The IMF made no mention of Joe Biden’s proposed $ 1.9 trillion stimulus package, despite encouraging countries to continue spending to support their economies until the virus is gone.