This is clear from the World Economic Outlook of April, which was released today. The global economy as a whole will grow by 6% by 2021, estimates the IMF. In January, growth of 5.5 percent was assumed.
There is an upward trend, as the forecast for January was also slightly better than the 5.2 percent forecast the IMF assumed in October.
US benefits from Biden stimulus
Optimism, especially towards the United States, has grown over the past three months. The IMF expects the US economy to grow 6.4% this year, up from 5.1% in January. Growth of 3.5% is expected for 2022.
IMF thinks US economy is getting a big boost crowned $ 1.9 trillion ($ 1.6 trillion) from President Biden’s government.
The euro zone is lagging behind
The IMF is less optimistic about the euro zone than about the United States. The eurozone economy will grow by 4.4% this year. That’s 0.2 percent more than expected in January, but that growth is still well below the 5.2 percent that the IMF predicted in October.
Expectations for the United States have also increased more than for the euro area.
In 2022, euro zone growth at 3.8% will be slightly higher than that of the United States, estimates the IMF. But measured over the two years together, the United States is growing faster.
In addition, the euro area economy contracted further last year: 6.6%, compared to 3.5% in the United States.
The forecast for the Netherlands has been revised downwards. The IMF believes our economy will grow 3.5% this year and 3% next year. Last January, the IMF did not give a forecast for the Netherlands, but only for the large countries.
In October, the Fund still believed that the Dutch economy would grow by 4% this year.
One factor to this may be that the IMF still believed in October that our country’s economy would contract 5.4% last year. But it wasn’t too bad with a contraction of “only” 3.8 percent.