BAKU, Azerbaijan, January 21. The U.S. economy is set to grow at twice the rate projected by International Monetary Fund (IMF) last April, said the U.S. President Donald Trump in his special address to the World Economic Forum in Davos, TurkicWorld reports.
"Just over one year ago, under the radical left Democrats, we were a dead country. Now the United States economy is on pace to grow at double the rate that was projected by the IMF just last April. And with my growth and tariff policies, it should be much higher. I really believe we can be much higher than that. And this is all great news and it's great for all nations. The USA is the economic engine on the planet. And when America booms, the entire world booms. It's been the history. And we're at a point that we've never, I don't believe we've ever been. I never thought we could do it this quickly," he said.
Trump went on to add that instead of closing down energy plants, his administration is opening them up.
"Instead of building ineffective, money-losing windmills, we're taking them down and not approving any. Instead of empowering bureaucrats, we're firing them. And they're going out and getting jobs in the private sector for two and three times what they were making in government. Instead of raising taxes on domestic producers, we're lowering them and raising tariffs on foreign nations to pay for the damage that they've caused. We've cut federal spending by $100 billion and slashed the federal budget deficit by 27 percent in the single year. It's going to go down quite a bit more from there, driving inflation way down from the record highs of the Biden administration," he added.
