The forecasts will show GDP reaching 3.2 percent this year compared to last year and 3.1 percent in 2020, according to a copy of the projections obtained by CNBC. Growth will then level off at 3 percent through 2024, according to the projections.
WASHINGTON – President Donald Trump's budget will project that the economy continues to grow at a 3 percent rate or higher over the next five years, despite a more pessimistic consensus from outside forecasters.
However, the administration will tout that it has met or exceeded its economic forecasts for the president's first two years in office, according to materials obtained by CNBC. In 2017, the White House budget projected growth would be 2.3 percent in the fourth quarter compared to the previous year. It actually hit 2.5 percent.
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