Joe Biden’s $1.9tn US stimulus programme will boost the economic recovery from the coronavirus pandemic around the world, the OECD said on Tuesday, as it upgraded its outlook for global growth.
The Paris-based international organisation said it expected a stronger rebound from last year’s historic recession than it forecast in November, mainly because of the rapid rollout of Covid-19 vaccination programmes in many countries and the increase in US stimulus spending.
The scale of the Biden plan will add about 1 percentage point to global economic growth in 2021, Laurence Boone, the OECD’s chief economist, told the Financial Times.
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