The International Monetary Fund on Monday forecast global growth of 3.7 percent for 2017, which would be the most substantial annual growth since 2011, and to 3.9 percent for this year and 2019.
“Global growth has been accelerating since 2016, and all signs point to a continuous strengthening of that growth,” IMF Managing Director Christine Lagarde said in a press conference at the World Economic Forum’s annual meeting in Davos, Switzerland. “This is very welcome news.”
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 US 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.
(with The Associated Press)