The International Monetary Fund on Tuesday raised the global growth forecast for next year and the growth is projected to be driven largely by the expansion in the advanced economies, while their emerging and developing peers are set to have modest gains.
The global growth forecast for 2022 was raised to 4.9 percent from 4.4 percent, the IMF said in an update to its World Economic Forecast.
"The 0.5 percentage-point upgrade for 2022 derives largely from the forecast upgrade for advanced economies, particularly the United States, reflecting the anticipated legislation of additional fiscal support in the second half of 2021 and improved health metrics more broadly across the group," the IMF said.
The growth projection for this year was retained at 6.0 percent.
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