Goldman Sachs raises US growth predictions after Biden announced his fiscal stimulus plan

Analysts at Goldman Sachs raised US growth predictions for the second time this month, saying that US President-elect Joe Biden’s fiscal stimulus plan will help the economy recover from the COVID-19 crisis.

Where Goldman Sachs expects growth of 6.6% in 2021, compared to its previous predictions of 6.4% growth only, and also raised expectations of the size of the incentives that the new administration will be able to pay in the near future from 750 billion dollars to 1.1 trillion dollars, and analysts added that the increase in government spending and the level of income will help boost growth later this year.

Biden proposed a $1.9 trillion stimulus package on Thursday, saying bold investments are needed to support the economy and speed up the distribution of vaccines to control the health crisis.

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