International Monetary Fund foresees global economy accelerating to 3.5 pct. in '17

International Monetary Fund foresees global economy accelerating to 3.5 pct. in '17

International Monetary Fund foresees global economy accelerating to 3.5 pct. in '17

"Growth is projected to rise to 2.6 percent in 2017 and 3.5 percent in 2018, largely driven by specific factors in the largest economies, which faced challenging macroeconomic conditions in 2016", the outlook read.

Growth is also predicted to slow sharply in Iran, to 3.3 per cent in 2017, from 6.5 per cent a year ago when the Islamic republic won a boost from the lifting of economic sanctions.

The AFP reports that Maurice Obstfeld, IMF chief economist, said global growth will continue with the help of advanced economies and emerging low income countries.

"Acceleration will be broad based across advanced, emerging, and low income economies, building on gains we have seen in both manufacturing and trade", Obstfeld said.

The latest analysis was released ahead of meetings between finance ministers and central bank governors from the G20, who will gather in Washington, D.C., later this week. Treasury Secretary Steven Mnuchin on Monday told the Financial Times the administration's plan to roll out tax reform would likely slip as a result of the Republican-led healthcare overhaul bill. Those and other headwinds are expected to keep world growth capped at 3.8% for the foreseeable future, according to the IMF's long-term outlook. China's economy has steadied, thanks to government spending and an easy-money credit boom.

In an interview with the Leading European Newspapers Alliance, IMF Managing Director Christine Lagarde said that in the long run it makes sense for the Greek primary budget surplus to amount to 1.5 percent of GDP, contrary to the German view in favor of a 3.5 percent primary surplus.

Netflix to Hit 100 Million Subscribers This Weekend
By the end of this year, Piper Jaffray analyst Michael Olson expects the majority of the company's subscribers to be overseas. The net profit is estimated at United States dollars 66 million, with the operating margin at 4.4 percent.

Members of the OPEC cartel of oil exporters, mostly from the region, agreed previous year to reduce output by 1.2 million barrels per day from January 1 for six months, to support crude prices that had shed half of their value since mid-2014. "Financial markets are buoyant and expect continued policy support in China and fiscal expansion and deregulation in the United States". Investors expect the Chinese government to continue supporting economic growth.

Protection threats to growth in Europe were also highlighted by International Monetary Fund economists, just days ahead of the first round of the French presidential election.

Meanwhile the protectionist risk is emerging on the global horizon, around which International Monetary Fund director Christine Lagarde has already raised the alarm and sparked controversy with Donald Trump's administration. They include "the threat of deepening geopolitical tensions", the possibility that rising US interest rates will squeeze economic growth and rattle financial markets and the threat that protectionist measures will damage global trade.

Moreover, spillovers from slower growth in China or higher global financial volatility should be manageable for the Philippines because of its strong economic fundamentals, ample policy space, and limited trade and financial linkages with China, Peiris said.

Trump has already pulled the US out of one vast trade deal in the Pacific.

Wealthy economies also face deeper problems, in particular chronically weak growth in productivity - the output produced per hour of work - and aging workforces.

Recommended News

  • Evan Blass Posts Live Image of the HTC U Ocean

    Evan Blass Posts Live Image of the HTC U Ocean

    While the HTC U Ultra is no slouch, the HTC U looks like it ought to be a bit higher-end thanks to its Snapdragon 835 processor. The fingerprint sensor is also seen on the front of the device, complete with its offset placement on the bottom bezel.
    Rogers Place sells 10000 at-home tickets for San Jose game

    Rogers Place sells 10000 at-home tickets for San Jose game

    It's a major key to success . "I think he's a goalie that we can get to if we can get an extra look or two, and get one early". Cam Talbot stopped all 16 shots he faced for his first career playoff shutout and Edmonton's first postseason win since 2006.

    You'll Still Need to Talk Health Insurance on Your Tax Form

    Under a decision by the Trump administration, however, leaving that box blank will not get your tax return kicked back to you. The IRS said more than $1 billion still remains untouched as a result of people not filing their 2013 federal tax returns.
  • 'IS' In Talks With Al Qaeda On 'Possible Alliance'

    'IS' In Talks With Al Qaeda On 'Possible Alliance'

    Aid shipments also resumed to the Hammam al-Alil camp, southwest of Mosul , the main arrival point for people fleeing the fighting.

    Mark Hamill says he'd like to play George Lucas in a movie

    The poster harkens back to the poster for the first Star Wars film in 1977 in which Skywalker similarly pointed the beam up. Of course, this means Episode VIII will address the most significant mystery surrounding the character: her parentage.
    Almost  half of Americans infected with HPV

    Almost half of Americans infected with HPV

    And follow the CDC's recommendation for having routine cervical cancer screenings if you're a woman between the ages of 21 and 65. Though recent numbers have shown high HPV rates, vaccinating adolescents has been the proven way to bring these totals down.
  • Jennifer Garner Celebrates Birthday with Reese Witherspoon

    Jennifer Garner Celebrates Birthday with Reese Witherspoon

    Ben Affleck and Jennifer Garner filed for divorce without any lawyer which indicates that the decision was orchestrated amicably. They spend so much time working on their relationship - whether it's a friendship or anything - for their kids...

    Man Caught Stealing Over 100 Cell Phones at Coachella

    Police officers found over 100 stolen cell phones in Henao's bag, a haul that is hard to not find impressive. Using an elastic band around the wallet or phone will prevent it from smoothly sliding out of your pocket.

    Arkansas judge barred from death penalty cases

    District Judge Kristine Baker issued stays Saturday so the inmates could pursue a claim that they could suffer "severe pain". Ward's attorneys have argued he is a diagnosed schizophrenic with no rational understanding of his impending execution.
  • Trump seems confused about who is in charge of North Korea

    Kim insisted that North Korea, also called the DPRK (Democratic People's Republic of Korea), is ready for war with the US. Like much of Russia's state-controlled media, Kiselyov initially praised Trump in the weeks before and after his election.
    Two Officers Fired After Videos Of Brutal Motorist Beating Surface

    Two Officers Fired After Videos Of Brutal Motorist Beating Surface

    Bongiovanni said he verbally ordered Hollins to exit the auto several times and threatened to use his Taser but the man refused. Two Georgia police officers have been terminated after videos of a 21-year-old man being punched and kicked surfaced online.
    Army says 1 dead, 2 injured in golf course helicopter crash

    Army says 1 dead, 2 injured in golf course helicopter crash

    Army investigators were driving around the course in golf carts Monday evening, placing evidence markers near pieces of debris. Witnesses said pieces off the helicopter were falling off, but there is no report of fire at this time.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.