Global economy to grow at 3.8% in 2018

Dubai: Global growth is projected to strengthen to 3.9 per cent in 2018 and 2019, up from 3.8 per cent in 2017, driven by a projected pick-up in emerging market and developing economies, as well as resilient growth in advanced economies, according to the Word Economic Outlook (WEO) published by the International Monetary Fund (IMF).

The forecast for 2018 and 2019 is stronger than that given in the October 2017 World Economic Outlook by 0.2 percentage points for each year, with positive revisions compared to the October 2017 World Economic Outlook for emerging market and developing economies and especially for advanced economies.

The global effects of US fiscal policy changes account for almost half of the global growth upgrade for 2018–19 compared with October.

Beyond 2019, global growth is projected to gradually decline to 3.7 per cent by the end of the forecast horizon.