IMF projects 3.9pc growth in world economy

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The International Monetary Fund (IMF) has said that the world economic growth may post 3.9 per cent in the current year.

The IMF released the World Economic Outlook Update Monday ahead of the World Economic Forum meeting which begins Tuesday in Davos, a resort city of Switzerland.

“Global economic activity continues to firm up,” an IMF press statement says adding that “Global output is estimated to have grown by 3.7 percent in 2017, which is 0.1 percentage point faster than projected in the fall and 0.5 percentage point higher than in 2016.”

“The pickup in growth has been broad based, with notable upside surprises in Europe and Asia,” it added.

“Global growth forecasts for 2018 and 2019 have been revised upward by 0.2 percentage point to 3.9 per cent,” it added. “The revision reflects increased global growth momentum and the expected impact of the recently approved US tax policy changes.”