The International Monetary Fund (IMF) has slightly raised its estimate of world economic growth this Monday and next year, predicting further strengthening of cyclical recovery and outlining the beneficial impact of US tax reform on the US economy and its trading partners.
The IMF is now expecting the world economy to grow 3.9% in 2018 and 2019, up 0.2 percentage points more than they estimated last fall.
Today’s intergenerations for the world economy include only the largest economies and groups of countries and regions.
“The cycling jump that started in mid-2016 has further strengthened. In 2017, stronger global growth has been recorded by some 120 economies, which account for three quarters of world GDP, which is the broadest synchronized growth in global growth since 2010, “the report said.
The IMF also notes that roughly half of the revised estimates of world economic growth growth in 2018 and 2019 are linked to US tax reform that should have a positive impact on the US economy and its trading partners.