New discretionary fiscal stimulus measures announced by G-20 nations raised stimulus estimates to 2% of GDP in 2009 from 1.8% estimated in March, the International Monetary Fund said Sunday. At the same time, estimate for 2010 stood at 1.5% of GDP, larger than the previous estimate of 1.3%.
The aggregate amount in 2009 increased to US$820 billion from US$780 billion and to US$660 billion from US$590 billion in 2010.
The Updated Fund staff projections for the April World Economic Outlook revealed that the fiscal expansion relative to pre crisis levels would be larger than the previous estimate. For the G-20, the increase in the average overall fiscal deficit was estimated at 5.5% of GDP in 2009 and 5.4% in 2010.
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