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The IMF or International Monetary Fund has made changes on its forecast on global growth for the very first time in 5 years when it released a recent World Economic Outlook.
Right now, the IMF expects that there will be a remarkable pick up of 3. This is different from the earlier forecast of 3. But, the IMF added that numerous risks could easily tip off this expected global recovery such as geopolitics, trade protectionism, tighter than expected monetary policy and rising debt.
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The IMF, however, also claims that fiscal policy gave mild support to growth in The country of China provides a considerable stimulus by way of public investment in real estate and infrastructure which spilled over to other parts of the world.
European Central Bank continues with quantitative easing and negative interest rates which push credit growth further and Bank of Japan introduced a policy for targeting year zero yields.
Higher prices of commodities are believed to further add to global growth. This is going to support global growth since higher revenue can lead to income recovery and spending in countries that export commodities and with the recovery of energy sector investment.
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