The Fund will also declare that President Biden's £1.4trillion US economic stimulus package has boosted the outlook for global growth. In its latest economic update in January, the IMF forecast global growth of 5.5 per cent this year and 4.2 per cent in 2022. These are likely to be upgraded when the fund publishes its World Economic Outlook tomorrow. In January, the IMF forecast UK growth of 4.5 per cent this year and 5 per cent next year. Britain's Office for Budget Responsibility is less confident about this year, forecasting 4 per cent growth, but 7.3 per cent in 2022.

Source: The Nation April 05, 2021 00:00 UTC