Economy

IMF foresees 3.5% global economy growth in 2017

IMF foresees 3.5% global economy growth in 2017

Among other "downside risks", the report also points to the possibility of faster than expected interest rate rises in the U.S., which "could trigger a more rapid tightening in global financial conditions and a sharp dollar appreciation, with adverse repercussions for vulnerable economies".

In its latest World Economic Outlook report, the International Monetary Fund cut its 2017 growth forecast for the region comprising the Middle East, North Africa, Afghanistan and Pakistan to 2.6 percent, down from the 3.1 percent projected in January. This came alongside a sustained rise in imports that averaged 15.8% in the same period, faster than the 5.8% growth seen a year prior. For 2018, growth is expected to rise to 3.6 percent, and to 3.8 percent by 2022.

Chancellor Philip Hammond said: "The fundamentals of our economy are strong and we continue to invest in the skills needed for a stronger and fairer Britain".

In his foreword to the report, Obstfeld points to the turn to protectionism "leading to trade warfare" with "zero-sum" policy approaches that "could undermine global trading relationships, along with multilateral co-operation more generally". "The world economy still faces headwinds".

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The latest known location of the USS Carl Vinson was earlier reported by the United States military news outlet Defense News .

However, the foreword to its report contains a series of comments that appear aimed at Donald Trump's rhetoric of protecting American jobs.

This could hamper growth prospects for developing economies further, the International Monetary Fund warned.

The IMF said it cut its forecast for Arabian Gulf oil producers' economic growth this year, as their output restraint deal is expected to wipe out any gains from higher oil prices in terms of government revenue.

In January, IMF analysts had forecast that Polish GDP would grow 3.3% both in 2017 and 2018.

Boxer Adrien Broner Arrested While Driving "Bullet-Ridden" SUV
On the day the trial was scheduled to start in July, Broner showed up late to the court and was hung over, according to the judge. All charges, with the exception of the battery charge from Florida, came from Hamilton County.

Activity surprised on the upside in Japan thanks to strong net exports, as well as in euro area countries, such as Germany and Spain, as a result of strong domestic demand, the report said. As you are aware, Nigeria went into recession a year ago; there has been forecast recovery, but the need to address the fiscal situation is urgent.

"We have been collaborating with the Indian authorities in terms of looking at fiscal structural measures, including expenditure rationalisation while protecting infrastructure investment, tax broadening efforts", he said.

The threat of protectionism is the most worrying, but others include as-yet undetermined USA policies and their impact on the global economy, especially the possibility for a rising deficit and tearing down of financial regulations erected in the wake of the 2008 global crisis.

According to the published schedule of the gathering of world central banks and financial policymakers, Yi Gang, a deputy governor at the People's Bank of China, will attend a panel discussion on the Special Drawing Rights' role in the worldwide monetary system.

Thunder will likely play Russell Westbrook more minutes in playoffs
But Portland coach Terry Stotts said Friday that his status for the first-round opener in Oakland on Sunday was "undetermined". The Clippers will take another crack at it beginning against the Utah Jazz and their emerging French big man Rudy Gobert.


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