Global growth is expected be 3.9% in 2018 and 2019

Global growth is expected be 3.9% in 2018 and 2019

The government here said it expects Asia's fourth-largest economy to advance 3 percent in 2018.

The IMF stuck to its most recent world growth forecast of 3.9 per cent for both this year and next.

The risks internationally, according to the World Economic Outlook are tilted towards the downside and concerns include the vulnerable financial system, possible inward shift in trade policies, geopolitical tensions and climate shocks.

The World Bank made a similar prediction in January, saying growth could start flagging in the next couple of years as major economies such as the United States, China and the European Union begin to cool.

Keeping its growth predictions unchanged for India, the International Monetary Fund (IMF) on Tuesday said the country's GDP would grow at 7.4 per cent in 2018 and to further grow to almost 8 per cent in 2019.

However, the International Monetary Fund cautioned that the growth "momentum is not assured", given trade tensions between the United States and China and the expected reversal of the positive effects from the USA tax cuts.




"US tax reform will subtract momentum starting in 2020, and then more strongly" in 2023 as some of the investment provisions kick in. "Against that positive backdrop, the prospect of a similarly broad-based conflict over trade presents a jarring picture", Maurice Obstfeld, IMF's Economic Counsellor and Director of the Research Department, said in remarks accompanying the outlook.

The IMF economist said action to reduce imbalances between economies should be tackled in multilateral actions, adding that surplus and deficit countries should co-ordinate actions to bring their spending programmes more closely into line with their income levels.

According to the International Monetary Fund, expansion of investment in many economies accelerated growth to over 4 percent in the second half of 2017, the highest figure since 2010. "Let's use it and proceed in a collaborative way rather than conflictive way", he said, adding that "[there are] not going to be any winners coming out of a trade war". Trump, who campaigned on a pledge to protect US industries from what he argues is unfair foreign competition, has slapped tariffs on steel and aluminum imports.

The World Bank also raised SA's GDP growth forecast for 2018 earlier in March, to 1.4%.

It forecasts the Irish economy to grow at 4.5% this year and 4% next year.

The US economy is forecast to grow by 2.9%, up 0.6% from the previous forecast. Japanese economic growth is forecast to decelerate to 1.2 percent from 1.7 percent in 2017.

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