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IMF revises upwards its global economic growth perspectives for 2014 IMF increases its previsions for global growth due to expected recovery in advanced economies. Forecasts for growth in the Middle East revised downwards, however
The International Monetary Fund (IMF) expects its late global growth projections to rise slightly in 2014, up to 3.7 percent from 3 percent last year. In its World Economic Outlook Update, the IMF attributes its positive forecast to a recovery in advanced economies, which will give a push to emerging countries. Concerns remain, however, over domestic weaknesses. The IMF has left unchanged its overall growth projections for emerging markets and developing countries since its last economic outlook in October. While growth expectations in some sub-regions like developing Asia have increased compared to October's outlook, they have decreased in the Middle East, North Africa, Afghanistan, and Pakistan by 0.3 to 3.3 percent. These downward revisions in North African and Middle Eastern growth reflect the trend that the rebound in Libyan oil output after the shortages of 2013 will slow, the report explained. Overall, growth in advanced economies is expected to jump from 1.3 percent in 2013 to 2.2 in 2014. In emerging markets and developing countries, growth is expected to reach 5.1 percent, compared with 4.7 percent last year. IMF projects global activity to strengthen further to 3.9 percent in 2015 after the slowdown in 2013. http://english.ahram.org.eg/News/92175.aspx
