Miércoles, 17 Octubre, 2018

IMF Upgrades S. Korea's 2017 Growth Forecast to 2.7 pct

International Monetary Fund Managing Director Christine Lagarde speaks during a news conference after the International Monetary and Financial Committee conference at the W IMF Organisation raises China growth forecast to 6.6% this year, 6.2% in 2018
Manuel Armenta | 20 Abril, 2017, 18:54

Overall, Europe will register a 2 percent economic growth, and emerging Europe, a region also including Romania, will register a 3 percent advance in the GDP.

"Aside from the conjectural policies and uncertainties, a distinct threat comes from the growth in advanced economies of domestic political movement, skeptical of the worldwide economic integration", IMF chief economist Maurice Obstfeld said. "The economic upswing that we have expected for some time seems to be materializing".

IMF's publication World Economic Outlook (WEO) that conducts surveys recently revised India's growth forecast for the financial year 2017 at 6.8 per cent.

The IMF now expects GDP growth in Hungary to pick up from 2% a year ago to 2.9% in 2017, rather than to 2.5% as in the previous outlook released in October 2016.

Euro area growth forecast for this year was increased to 1.7% from 1.5% and the projection for next year was retained at 1.6%.

The IMF's recent projections exceed the Hungarian ministry's projections for 1.6% average annual inflation in Hungary in 2017 and 3.1% in 2018.

The news comes as Britain gears up for a surprise general election: Prime Minister Theresa May called for a poll on Tuesday, in part to shore up her mandate for forthcoming Brexit negotiations.

He said: "It could be a trade-off of more uncertainty on 8 June for less uncertainty later".

Although growth looks to be strengthening broadly among advanced and emerging market economies as well, oil and commodity exporters that are starting to benefit from a commodity price recovery, including Russian Federation and Brazil, the International Monetary Fund said the recovery remains fragile.

He cited the subdued trend productivity growth across the world economy, and also raised the uncertainties from macroeconomic policies in the United States and China, the world's two largest economies. It did not specifically mention the Trump administration's "America First" trade agenda aimed at reducing USA trade deficits and turning away more imports.

Loosening financial rules "may imperil global financial stability and raise the risk of costly financial crises down the road", the International Monetary Fund wrote.

But answering a question posed by JOYBUSINESS at a press briefing on the World Economic Report, on the sidelines of the IMF/World Bank spring meetings in Washington D.C, Director of Economics Studies at the IMF, Oya Celasun said the measure will help minimize any negative impact on Ghana.