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The International Monetary Fund (IMF) raised its forecast for global economic growth this year and next and said last year was stronger than expected.
“Global growth has been accelerating since 2016 and all signs point to a continuous strengthening of that growth this year and next year in 2019,” Christine Lagarde, managing director of the IMF, told a news conference in Davos, Switzerland, for the World Economic Forum (WikiTribune rolling coverage).
She warned that there were risks ahead as well and called on world leaders to tackle debt and difficult problems from inequality to climate change while they had the advantage of growth.
Releasing its 2018 World Economic Outlook, the IMF said growth in 2017 was 3.7 percent – up 0.1 percent from what was forecast last fall and half a percentage point higher than 2016. It raised forecasts for 2018 and 2019 by 0.2 percent to 3.9 percent.
The IMF’s report states that its upward revision is in part due to “… the expected impact of the recently approved U.S. tax policy changes,” and that “U.S. tax policy changes are expected to stimulate activity,” both in the USA and globally.
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