IMF expects India's economy to grow at 7.4% in 2018

17 April, 2018, 20:16 | Author: Regina Silva
  • South Korean Finance Minister Kim Dong-yeon shakes hands with International Monetary Fund chief Christine Lagarde before a meeting in Washington

The increased tension in recent months over trade largely reflects President Trump's view that the deficit in U.S. trade - the country imports more than it exports - is a result of poor agreements negotiated by his predecessors and other countries taking advantage of the US.

Most funds for IMF loans are provided by members via payments based on their position in the world economy, although the IMF can also borrow.

Thank you for your feedback. He says that recent tax measures are actually likely to increase the deficit. Last year, the expansion covered two-thirds of countries, accounting for three-quarters of global output, making it the broadest upswing since 2010 when the world was coming out of the financial crisis. "Instead, it is in danger of being torn apart".

"They're very closely aligned with our forecasts", said Brett House, the deputy chief economist at Scotiabank, where the prediction for Canada is one-tenth of a percentage point higher than what the International Monetary Fund projects.

"Global growth is expected to tick up to 3.9 per cent this year and next, supported by strong momentum, favourable market sentiment, accommodative financial conditions, and the domestic and worldwide repercussions of expansionary fiscal policy in the United States", the worldwide Monetary Fund said. Previous year the fund said China's credit growth was on a "dangerous trajectory".

"That major economies are flirting with trade war at a time of widespread economic expansion may seem paradoxical - especially when the expansion is so reliant on investment and trade", Obstfeld added.

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The IMF's latest forecast for Romania's 2018 economic growth is below the government's projection of a 6.1% increase.

The IMF left unchanged from January its growth estimate for China of 6.6 percent for 2018 and 6.4 percent in 2019.

Once the cyclical upswing and USA fiscal stimulus have run their course, prospects for advanced economies remain subdued, given their slow potential growth. Obstfeld said this forecast was a best-case assumption based on a Brexit deal that involved zero tariffs and favourable access to the European Union for the City.

Risks to the global growth forecasts were broadly balanced for the next few quarters, with the potential for stronger business profits to increase hiring and investments that could boost productivity, the International Monetary Fund said.

The IMF official said that these trends are more due to technology change than to trade, and even in countries where trade backlash is not prominent, public skepticism about policymakers' ability to generate robust and inclusive growth has spread.

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