IMF expects low potential global economic growth in 2015-20
In its April 2015 World Economic Outlook released today, the IMF increased its growth forecast for developed economies to 1.6%, which is still below the figures seen before the 2008-2009 crisis. The IMF commented that the economic growth prospects for developed countries will continue to make it difficult for these nations to bring down their high levels of public and private indebtedness.
Meanwhile, the bank lowered their annual economic growth estimates for developing economies to 5.2% between the years 2015-2020. Between the years of 2008-2014, developing countries showed an average potential growth rate of 6.5%.
Meanwhile, the IMF also reported that China’s economic growth may be slower over the next five years as the country’s economy signals a shift from an investment-led economy to a consumption-led one.
The IMF also called on governments to support investments and demand and added that developing countries should increase infrastructure spending, trim excessive regulation and work to improve the quality of their education systems.
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