The IMF predicted a record growth of the US economy in 2021

The International Monetary Fund (IMF) predicts a record growth rate of US GDP this year - about 7%, next year by about 5%. This is reported in the review of the US economy published by the fund.

Thus, US GDP growth at 7% will be the largest in the history of the country since 1984. Previously, the fund assumed the growth of the US economy by 4.6% in 2021. The IMF also raised its 2022 US GDP growth forecast to 4.9% from its previous forecast of 3.5%.

The IMF has revised its forecast upwards on the back of a rapid recovery from COVID-19 and the assumption that most of President Joe Biden's plans for infrastructure and social spending will be approved by Congress, Reuters said.

Last April, the IMF predicted a global economic contraction of 3% in 2020 — much worse than in 2009. According to the forecast of the fund, the US economy was to fall by 5.9%, the eurozone - by 7.5%, and Russia by 5.5%. The cumulative loss of global GDP from the epidemiological crisis could reach $9 trillion.

At the end of the year, US GDP showed a record fall since 1946 - by 3.5%. In addition, according to the report, the annual decline in US GDP occurred for the first time in 11 years.

In June of this year, the World Bank predicted the strongest "rebound" of the global economy and its growth by 5.6%. Thus, growth drivers in 2021 will be deferred demand in China and large-scale cash injections into the US economy. According to the bank's forecast, the US economy will grow by 6.8%, the Russian economy by 3.2%.