IMF: Global Economy Growing Stronger

IMF: Global Economy Growing Stronger

After almost two years of growth, the global economy is continuing in its upswing as structural changes abound

In its April 2018 World Economic Outlook report the International Monetary Fund (IMF) has predicted continued growth for the global economy, continuing the positive trend witnessed since mid-2016.

The IMF said in a statement: “The global economic upswing that began around mid-2016 has become broader and stronger.

“This new World Economic Outlook report projects that advanced economies as a group will continue to expand above their potential growth rates this year and next before decelerating, while growth in emerging market and developing economies will rise before levelling off.”

In a more cautious tone the IMF added: “For most countries, current favourable growth rates will not last.

“Policymakers should seize this opportunity to bolster growth, make it more durable, and equip their governments better to counter the next downturn.”

The statement from the IMF echoes recent trade forecasts and points towards a policy of consolidation.

Dubai has remained a step-ahead of such calls in its vision for 2021 in which it intends to strengthen itself in the development of greater infrastructure and better trade links.

The IMF also stated that, for the global economy on the whole, trends towards automation have been a net benefit.

Read more: Retail Goes Global as e-Commerce Shoppers Cross Borders

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