The latest report issued by the International Monetary Fund showed an increase in the Fund’s expectations for the growth of the economy in the United States of America, the largest economy in the world this year, to 7%, which represents the fastest growth rate since 1984, compared to expectations in April, which indicated that the American economy would achieve a growth of 4.6%. While the Fund expected the economy to grow by about 4.9% in the next year 2022, compared to its previous forecast of 3.5% in April.

The IMF estimates came amid expectations that the US Congress will pass the Biden government’s plans on infrastructure, social spending and tax reform plans during the remainder of the year, as the Director-General of the International Monetary Fund, Kristalina, indicated that these packages will raise GDP by a cumulative rate of 5.25% during the course of the year. The period 2022-2024 will improve income and living standards.