If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year — but this hinges crucially on the dollar, according to Bank of America Merrill Lynch.
Growing uncertainty triggered by escalating trade tensions and political risks would cloud global growth outlook, the Organization for Economic Cooperation and Development (OECD) warned, expecting weaker economic performance for the 2018-19 period.
Egypt will have to deepen its IMF-backed reforms and better encourage private sector growth if it wants to cash in on a wave of global expansion that may soon come to an end, a fund official in Cairo said.
The IMF said Tuesday it remains upbeat about the economic prospects of emerging Asia, labelling the region "the most important engine of global growth" despite concerns over trade disputes and mounting debt.
By Simon Kennedy and Rich Miller
The International Monetary Fund conducts its semi-annual health check of the world economy this week with investors fretting global growth is starting to sag after accelerating the most since 2011 last year.
The global economy is expected to grow at a robust pace this year and reach an altitude not seen since 2010, as momentum builds in developed economies and inflation revives, Reuters polls of over 500 economists showed.
By Gavyn Davies*
There is now an almost complete, if belated, consensus among economic commentators that the global economy has enjoyed a synchronized and fairly strong cyclical upswing in 2017. Last month, the OECD joined this consensus, while pointing out that many of the longer term supply side issues that have plagued the world economy in the current decade remain to be solved.
The global economy is set to grow 3.6 percent this year before nudging up to 3.7 percent in 2018, the best performance since 2011, the Paris-based Organization for Economic Cooperation and Development (OECD) said.