World Economy to grow at 3.7% in 2018

(MENAFN) The IMF today said the global economic recovery is continuing at a faster pace as it upgraded its growth projection to 3.6 per cent for this year, citing an upswing in countries like China, Japan, Russia, and some emerging economies in Europe.

Releasing its latest World Economic Outlook (WEO), the International Monetary Fund said the global growth forecast for 2017 and 2018 - 3.6 per cent and 3.7 per cent, respectively - is 0.1 percentage point higher in both years than in the April and July forecasts.

Notable pickups in investment, trade, and industrial production, coupled with strengthening business and consumer confidence, are supporting the recovery.

With growth outcomes in the first half of 2017 generally stronger than expected, upward revisions to growth are broad based, including for the Eurozone, Japan, China, emerging Europe, and Russia.

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