International Monetary Fund forecasts 2.3% growth for Tunisia in 2017, 3% in 2018

Lloyd Doyle
October 13, 2017

Morocco is expected to report 4.8% growth this year and 3% growth in 2018 and Egypt 4.1% growth this year and 4.5% growth in 2018.

The IMF forecasts USA economic growth of 2.2% this year and 2.3% in 2018, down from April when the IMF predicted 2.3% growth in 2017 and 2.5% in 2018.

The report cited "notable pickups in investment, trade, and industrial production, coupled with stronger business and consumer confidence", as central to the strong global recovery.

"First-half 2017 growth was 1.8 percent, largely driven by the agricultural and services sectors which expanded by 3.8 percent each, while nonmanufacturing industries contracted by 2.6 percent".

The IMF said that with early 2017 growth stronger than expected, its upward revisions are broad-based for the euro area, Japan, China, emerging Europe, and Russian Federation.

Growth forecasts in the USA, UK and India have been revised downwards.

The IMF continues to expect United Kingdom economic growth to slow from 1.8% in 2016 to 1.7% this year and to 1.5% next year.

After having estimated in April that Macau would see its real gross domestic product (GDP) grow by 2.8 per cent and 1.7 per cent for this year and next, the International Monetary Fund considers now that the MSAR would register a 13.4 per cent growth this year and a 7 per cent increase in 2018.

Despite the good news, the report comes with a warning that the global recovery is far from complete with weak growth rates still persisting in several countries - particularly among fuel exporters hit by a fall in foreign earnings - and inflation still below the target rates in most advanced economies.

"In the rest of emerging market and developing Asia", the fund wrote, "growth is expected to be vigorous".

Projected growth rates for China have been upgraded all the way to 2022, on the assumption that the Chinese Communist Party maintains its current economic policies.

However, the International Monetary Fund said the economic recovery is not complete, as growth remains weak in many countries, and as inflation stays below its target in most advanced economies. "Priorities for mutually beneficial cooperation include strengthening the global trading system, further improving financial regulation, enhancing the global financial safety net, reducing worldwide tax avoidance, and fighting starvation and infectious diseases".

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