Vaccines will power 5.5% economic growth of world

The roll-out of COVID-19 vaccine in India will boost the global economic recuperation this year, the International Monetary Fund, forecasted. After declining to 3.5% last year the global economy is expected to grow 5.5% this year.

It is expected that 2021 is an upgrade from the 5.2% expansion & would mark the fastest economic growth globally. The vaccines are expected to control the spread of virus and bring the economic activities back on track.

The world economy got a boost from government stimulus programs. According to IMF the global economy will need support from their governments to cure the damage caused by the pandemic.

IMF Chief economist Gita Gopinath said, “Everything depends on the race between the spread of virus and vaccine roll-out to provide effective support till the pandemic ends”.

The IMF gave India a big upgrade, thanks to the quick recuperation in the factories & farms. Indian economy is expected to expand very quickly.