IMF Expects Global Economic Growth Of 5,5% In 2021 China's Economic Growth Of 8,1%

The World Economic Outlook Report states that a number of new crown vaccines have recently been approved for marketing, and people from all walks of life have higher expectations of improving the epidemic later this year. However, with the advent of a new round of epidemics associated with the emergence of mutant viruses, it cast a shadow over the economic outlook. Under great uncertainty, the IMF predicts that the global economy will grow by 5.5% in 2021.

The report pointed out that this time growth of 5.5% is expected to increase by 0.3 percentage points from previous expectations, reflecting expectations that vaccination is expected to support the economy and the impact of further political support from several major economies. The IMF predicts that in 2021 the economies of advanced and emerging markets will grow by 4.3% and emerging economies by 6.3%. Of these, the United States economy will grow by 5.1% and the euro area economy by 4.2% and the Chinese economy by 8.1%.

In 2022, the IMF expects the global economy to grow by 4.2%. The economies of advanced and emerging markets and emerging economies will grow by 3.1% and 5.0%, respectively. Among them, the US economy will grow by 2.5% and the euro area economy by 3.6% and the Chinese economy by 5.6%.

The IMF predicts that the economic recovery of different countries will vary significantly due to factors such as the popularity of medical interventions, the effectiveness of policy support measures, the size of cross-border side effects and structural characteristics before the crisis.

The report also states that although the global economy is expected to recover in 2021, the global economy is expected to contract by 3.5% in 2020. As a result of better-than-expected economic growth in the second half of 2020, the contraction rate decreased by 0.9 percentage points compared to previous expectations.

The IMF emphasizes that before stabilization recovers, countries should ensure that they provide effective political support to the economy, focusing on boosting potential output, ensuring inclusive and inclusive economic growth and accelerating the transition to a low-carbon economy. In addition, countries must also engage in strong multilateral cooperation to manage the epidemic around the world, including increasing financial support for the "Plan for the Implementation of a New Coronary Pneumonia Vaccine" (COVAX) and enabling all countries to obtain vaccines more quickly.