Economy

Global CEOs see India as 5th most attractive investment destination

Global CEOs see India as 5th most attractive investment destination

The upward revision was announced by Maurice Obstfeld, IMF Economic Counsellor and Director of Research, at a press conference on Update of the World Economic Outlook in Davos, Switzerland.

The IMF said it saw "a stronger push from external demand" and from exports on the Italian economy.

In its latest forecast, the Fund projects growth for Britain of 1.5 per cent next year, down from 1.6 per cent previously. "The effects of the package on output in the United States and its trading partners contribute about half of the cumulative revision to global growth over 2018-19".

It is true that impact of braking is controlled: it goes from 3.1% registered in 2017 to 2.4% this year, and for 2019 economy will grow slightly more than expected, up to 2.1%, one tenth above what was calculated in October, probably under premise that Incertidu Name policy will have remitted.

The revision reflects stronger than expected activity past year, higher projected external demand, and the expected macroeconomic impact of the tax reform, in particular the reduction in corporate tax rates and the temporary allowance for full expensing of investment, it said.

Lagarde believes it is good news that the global economic growth is on positive trajectory, but makes a strong case for the inclusiveness of the economies.

More news: Edmund ousts Seppi to enters quarterfinals

But forecast growth for the US, Germany, France, Italy and Japan are all pushed upwards this year as global growth is seen hitting 3.9 per cent, the most rapid since the 4.2 per cent expansion in 2011.

An important feature of the tax reforms is the reduction in the corporate tax rate from 35 percent to 21 percent, which gives USA companies an incentive to bring back their holdings stashed away overseas. The global growth forecast has been revised upward by 0.2 percentage point to 3.9 percent.

As major stock markets worldwide have been on the upswing, with repeated records set on Wall Street, the report warned that "rich asset valuations... raise the possibility of a financial market correction, which could dampen growth and confidence". Shared priorities across all economies include implementing structural reforms to boost potential output and making growth more inclusive.

"Multilateral cooperation remains vital for securing the global recovery".

The IMF said even though the economic "rebound could prove stronger in the near term", the risks to the global forecast remain tilted to the downside.

And the absence of worries in the near term could prompt financial market players to look for riskier and more profitable investments "and amplify the buildup of financial vulnerabilities", the International Monetary Fund warned. Among emerging market economies, headline and core inflation have ticked up slightly in recent months after declining earlier in 2017.


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