IMF raises global growth forecast for 2018 & 2019

The International Monetary Fund (IMF), on Monday, upgraded global growth forecasts for 2018 and 2019, partly on the back of the recently approved overhaul of the US tax system. 

Key highlights:

   •  Raises 2018 global growth forecast to 3.9% from 3.7%
   •  Also sees 2019 growth at 3.9% compared to 3.7% prior
   •  Raise 2018 US growth to 2.7% vs 2.3% in Oct
   •  Raises 2018 China growth to 6.6% vs 6.5% prior
   •  Warns a financial market correction could dampen global growth
   •  Maintains growth forecast for emerging and developing markets
   •  Sees US growth slowing from 2022 as tax impact begins to wane
   •  Cuts 2018 South Africa projection to +0.9% from +1.1%