IMF SEES 3.9 PER CENT GROWTH, CITES MASSIVE SPENDING
26 enero 2010
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Published by DPA-Yahoo! News
Washington (DPA) - The International Monetary Fund (IMF) said Tuesday the global economy will grow faster than expected in 2010, thanks to massive injections of public spending that helped curb the past year's deep recession, according to an updated forecast. The world's economy will grow at 3.9 per cent this year, up 0.8 percentage points from the IMF's previous forecast in October, and coming after the world's deepest recession in decades over 2009.
But the pace of the recovery still differs greatly between regions. Wealthy countries' economies will grow just 2.1 per cent - also up 0.8 percentage points from October's prediction - while growth in developing countries will surge ahead by 6 per cent.
"The world economy is recovering. The recovery remains however largely policy driven and it is increasingly a multi-speed recovery," said Olivier Blanchard, the IMF's chief economist.
Emerging powers, particularly in Asia, are leading the recovery: China will grow an unparalleled 10 per cent this year and India's economy will jump 7.7 per cent. Brazil's economy will add 4.7 per cent.
Advanced countries by contrast are still struggling with low growth that will make it difficult to curb high unemployment rates, which have plagued many wealthier countries as they battle their way out of a nearly two-year recession.
Blanchard said the recovery in wealthy countries was slow compared to past recessions and "will barely be enough to reduce the output gap and unemployment will remain high."
The United States will grow 2.7 per cent while the 16-country euro zone is expected to gain just 1 per cent this year, the IMF said in its updated World Economic Outlook. Japan's economy will climb 1.7 per cent.
Germany, Europe's largest economy, will gain 1.5 per cent in 2010, while Spain is one of the few countries that will remain in recession, its economy shrinking 0.6 per cent over the year.
For 2011, the IMF predicted the global economy will grow 4.3 per cent.
The regional gap will remain wide - 2.4 per cent in wealthy countries and 6.3 per cent in the developing world.
Washington (DPA) - The International Monetary Fund (IMF) said Tuesday the global economy will grow faster than expected in 2010, thanks to massive injections of public spending that helped curb the past year's deep recession, according to an updated forecast. The world's economy will grow at 3.9 per cent this year, up 0.8 percentage points from the IMF's previous forecast in October, and coming after the world's deepest recession in decades over 2009.
But the pace of the recovery still differs greatly between regions. Wealthy countries' economies will grow just 2.1 per cent - also up 0.8 percentage points from October's prediction - while growth in developing countries will surge ahead by 6 per cent.
"The world economy is recovering. The recovery remains however largely policy driven and it is increasingly a multi-speed recovery," said Olivier Blanchard, the IMF's chief economist.
Emerging powers, particularly in Asia, are leading the recovery: China will grow an unparalleled 10 per cent this year and India's economy will jump 7.7 per cent. Brazil's economy will add 4.7 per cent.
Advanced countries by contrast are still struggling with low growth that will make it difficult to curb high unemployment rates, which have plagued many wealthier countries as they battle their way out of a nearly two-year recession.
Blanchard said the recovery in wealthy countries was slow compared to past recessions and "will barely be enough to reduce the output gap and unemployment will remain high."
The United States will grow 2.7 per cent while the 16-country euro zone is expected to gain just 1 per cent this year, the IMF said in its updated World Economic Outlook. Japan's economy will climb 1.7 per cent.
Germany, Europe's largest economy, will gain 1.5 per cent in 2010, while Spain is one of the few countries that will remain in recession, its economy shrinking 0.6 per cent over the year.
For 2011, the IMF predicted the global economy will grow 4.3 per cent.
The regional gap will remain wide - 2.4 per cent in wealthy countries and 6.3 per cent in the developing world.
