IMF hikes outlook for global growth for 2018; Growth in Europe, Asia and Trump tax cuts reasons

Setopati

2018-01-22 20:05:49

The International Monetary Fund is upgrading the outlook for the world economy, noting surprisingly strong growth in Europe and Asia and predicting that U.S. tax cuts will give the American economy a short-term boost. The IMF on Monday upgraded its growth forecast for the world economy by 0.2 percentage points to 3.9% for both 2018 and 2019. The international lending agency says 120 countries, representing three-quarters of world economic output, enjoyed economic growth in 2017, creating the broadest global expansion in seven years. World trade is expanding, and consumers are more confident. The IMF expects the U.S. growth to accelerate to 2.7 percent this year, from 2.3 percent in 2017, citing increased investment as businesses take advantage of lower corporate tax rates.

Published Date: 2018-01-22 20:05:49

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