US PIIE raises global economic growth rate from 4.7% to 5.6% this year

US and China outlook raised… Euro, Japan and Britain lowered

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[아시아경제 유제훈 기자] It is predicted that this year’s global economic growth rate will increase thanks to the development and distribution of the Corona 19 vaccine and the expanding fiscal policies of each country.

According to a report released by the American think tank Peterson Institute for International Economics (PIIE) on the 1st (local time), the global economic growth rate forecast this year is 5.6%. This is a 0.9 percentage point increase from the 4.7% PIIE expected in October last year.

PIIE said, “The global economic outlook is brighter than predicted last fall due to the faster-than-expected Corona 19 vaccine development and distribution, and more fiscal policies than previously anticipated.” Explained.

PIIE predicted that by country, the US (4.1% → 6.3%) will see the fastest economic recovery this year, according to aggressive fiscal policy. China (6.0% → 8.5%) also reported that it has been leading the recovery of emerging economies since it partially succeeded in suppressing Corona 19 last year.

However, in Europe (6.0% → 4.4%), Japan (5.0% → 2.5%), and the United Kingdom (4.0% → 3.8%), the forecast was slightly lower. PIIE said, “In the case of Japan, the decision to hold the Tokyo Olympics without foreign visitors will hinder economic recovery.” Corona 19 response

Reporter Yoo Je-hoon [email protected]