Biden stimulus plan could boost US output by 5 per cent over three years: IMF

[WASHINGTON] Preliminary estimates show US President Joe Biden's proposed US$1.9 trillion economic stimulus package could boost US economic output by 5 per cent over the next three years, the chief ecnomist of the International Monetary Fund said Monday.

Gita Gopinath told a news conference the measures in the proposed package could add as much as 1.5 per cent to US growth in 2021, when the IMF projects the US economy will expand by 5.1 per cent after a 3.4 per cent contraction in 2020.

REUTERS