Congressional experts: US economy will return to normal in mid-year

Congressional experts: US economy will return to normal in mid-year

The US economy is expected to grow at a normal pace over the next decade, starting in mid-2021, once the coronavirus pandemic is brought under control.

Such forecasts were made by the Congressional Budget Office.

The non-partisan government said that as millions of Americans are vaccinated against the virus, “the expansion of the economy that began in mid-2020 will continue” until 2031.

The agency said in a statement that the US $ 20.8 trillion economy, the largest in the world, “is projected to return to pre-pandemic levels in mid-2021 and surpass its potential, that is, maximum sustainable level, in early 2025.

The agency predicts that US unemployment, which stood at 6.7 percent in December, will gradually decline through 2026, and the number of employed people will return to pre-pandemic levels in 2024.

Labor Department officials said about 10 million of the 22 million workers laid off by the pandemic remain unemployed.

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