IMF sees world growth 3.5% in 2015; EU, Japan strengthen

//Photo: operationworld

//Photo: operationworld

The International Monetary Fund said Tuesday that the Japanese and European economies were picking up pace as it stuck to its forecast for moderate global growth this year and next.

The global economy will grow about 3.5 percent this year, after 3.4 percent in 2014, and speed up to 3.8 percent next year, the IMF said.

The IMF trimmed its outlook for the United States but said the country would remain the driver of world output in 2015 and 2016 while many emerging economies struggle with low commodity prices and turbulence in financial markets.

It also said in its semi-annual World Economic Outlook that the plunge in oil prices was not yet generating all the potential benefits of more spending money in consumers’ pockets.

And it warned that, to avoid being locked in a slow-growth mode over the medium term, governments need to be more aggressive in implementing market-friendly reforms and investing in infrastructure

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