International Monetary Fund significantly improves Slovenia's GDP growth forecast to 4.0% in 2018

International Monetary Fund significantly improves Slovenia's GDP growth forecast to 4.0% in 2018

The IMF said Tuesday it remains upbeat about the economic prospects of emerging Asia, labeling the region "the most important engine of global growth" despite concerns over trade disputes and mounting debt.

It also upgraded its forecast for United States growth in 2018 to 2.9 percent, up from 2.7 percent previously. The country's own 2018 target is around 6.5 percent.

China is expected to grow respectively at 6.6 and 6.4 per cent in the two years.

Investors with $543bn of assets are the least optimistic about global growth momentum since the United Kingdom voted to leave the European Union, according to Bank of America Merrill Lynch.

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.

The study shows that previous year, global smartphone sales stood at close to 1.5 billions - or one for every five people on the planet.

Sub-Saharan Africa's economy is expected to grow 3.4 percent this year, up from 2.8 percent in 2017.

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"The prospect of trade restrictions and counter-restrictions threatens to undermine confidence and derail global growth prematurely", said Maurice Obstfeld, the fund's economic counsellor and director of the research department.

"We have several issues on the agenda now". It will drop to 127.5% in 2019 and 116.6% in 2023, the fund said.

But for the next few decades, the risks to the global growth forecasts were broadly balanced, it added, with the potential for stronger business profits to increase hiring and investments that could boost productivity. The US will expand at a 2.7% pace in 2019, also up 0.2 of a percentage point from three months ago.

"The medium-term growth forecast is also broadly unchanged at 1.6%, reflecting the anticipated higher barriers to trade and lower foreign direct investment following Brexit".

Speaking at a news conference, Obstfeld said the International Monetary Fund had run economic simulations about the impact of a far-reaching trade war that would include across-the-board tariffs of 10 percent.

However, the latest International Monetary Fund growth rate projection remains unchanged since the last one in October.

In India public banks are saddled with bad loans, making it hard for them to continue to fund the economy.

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