In the latest update to the IMF’s World Economic Outlook (WEO), nearly all the forecasts for 2018 and 2019 were revised upward compared to the October edition. The global economy is now expected to grow 3.9 per cent this year and next, two-tenths higher than the IMF estimated, and up from growth of 3.7 per cent in 2017.
“Some 120 economies, accounting for three-quarters of world GDP [gross domestic product], have seen a pickup in growth in year-on-year terms in 2017, the broadest synchronized global growth upsurge since 2010,” the global lender of last resort said in its report
This “increased global growth momentum,” coupled with the expected impact of Donald Trump’s US tax reform were cited as reasons for the revision.
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(Photo: Piotr Lewandowski/sxc.hu)