Finance Minister enhances Primary Dealers system to strengthen government securities market, alleviate debt service burden    Valu Partners with Magdi Yacoub Heart Foundation to streamline donations for New Cairo centre    Australia retail sales inch up 0.1% in April    UK retail sales rebound in May – CBI survey    ECB should favour QE in Crisis – Schnabel    Kremlin accuses NATO of direct involvement in Ukraine conflict as fighting intensifies    SCZONE aims to attract more Korean companies in targeted industrial sectors: Chairperson    30.2% increase in foreign workers licensed in Egypt's private, investment sectors in 2023: CAPMAS    Cairo investigates murder of Egyptian security personnel on Rafah border: Military spox    Al-Sisi receives delegation from US Congress    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Russia to build Uzbek nuclear plant, the first in Central Asia    Arab leaders to attend China-Arab States Co-operation Forum in Beijin    East Asian leaders pledge trade co-operation    Abdel Ghaffar highlights health crisis in Gaza during Arab meeting in Geneva    Tunisia's President Saied reshuffles cabinet amidst political tension    Hassan Allam Construction Saudi signs contract for Primary Coral Nursery in NEOM    US Embassy in Cairo brings world-famous Harlem Globetrotters to Egypt    Instagram Celebrates African Women in 'Made by Africa, Loved by the World' 2024 Campaign    US Biogen agrees to acquire HI-Bio for $1.8b    Egypt to build 58 hospitals by '25    Giza Pyramids host Egypt's leg of global 'One Run' half-marathon    Madinaty to host "Fly Over Madinaty" skydiving event    Coppola's 'Megalopolis': A 40-Year Dream Unveiled at Cannes    World Bank assesses Cairo's major waste management project    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Global growth to increase to 3.3% in 2020, 3.4% in 2021: IMF
Published in Amwal Al Ghad on 22 - 01 - 2020

The International Monetary Fund (IMF) expects that global growth will increase modestly from 2.9 percent in 2019 to 3.3 percent in 2020 and 3.4 percent in 2021, which represents a slight downward revision of 0.1 percent for 2019 and 2020, and 0.2 percent for 2021 according to the World Economic Outlook report update.
The report said that this expectation stems from the downward revisions for India, but the projected recovery for global growth remains uncertain, as it “continues to rely on recoveries in stressed and underperforming emerging market economies, as growth in advanced economies stabilises at close to current levels.”
According the report, the US-China Phase I deal, if durable, is expected to reduce the cumulative negative impact of trade tensions on global GDP by the end of 2020 from 0.8 percent to 0.5 percent.
For emerging markets and developing economies, the report forecasted a pickup in growth from 3.7 percent in 2019 to 4.4 percent in 2020 and 4.6 percent in 2021, a downward revision of 0.2 percent for all years. The biggest contributor to the revision is India, where growth slowed sharply due to stress in the nonbank financial sector and weak rural income growth.
China's growth has been revised upward by 0.2 percent to 6 percent for 2020, reflecting the trade deal with the United States.
Nonetheless, pickup in global growth for 2020 remains highly uncertain based on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for underperforming emerging and developing economies such as Brazil, India, and Mexico.
It is also expected that interest rates will stay low for a long while, so macro prudential tools should be proactively used to prevent the build-up of financial risks.


Clic here to read the story from its source.