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China trade dispute risks undermining stronger global growth, International Monetary Fund warns

China trade dispute risks undermining stronger global growth, International Monetary Fund warns

His warning came as the IMF's World Economic Outlook predicted the growth in 2018 and 2019 would be the strongest and broadest-based since 2010, when there was an initial sharp bounce back from the global recession of 2008-09.

West Africa's second-biggest economy should expand 6.3% this year, the International Monetary Fund said in its World Economic Outlook released on Tuesday.

The IMF statement said the Crown's fiscal position was strong and "provides space to accommodate the needs from strong economic and population growth", with increased spending on infrastructure able to be ramped up further if a bigger-than-expected tax take turned out to be structural.

Slovenia's average annual inflation is seen at 1.7% this year and 2.0% in 2019, following a growth of 1.4% in 2017.

"Things continue at strong levels in 2018", he said.

As growth rises and unemployment rates fall, politicians tend to make mistakes. Figures disclosed previous year that some €119 million in Apple's global sales are put through its Irish operations.

Some central banks and governments are trying to get ahead of the curve.

Speaking at the World Bank and IMF Spring Meetings in Washington DC, Mr. Maurice Obstfeld, Economic Counselor and Director of the Research Department at the IMF, said the 44-country African Continental Free Trade Area promises to bolster African economies.

The IMF predicts projected that GDP growth in Sub-Saharan Africa will increase gradually during 2018-19 to 3.4% and 3.7%, respectively, as commodity prices rise.

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In the U.S., the Trump tax reform will also weigh on the economy after 2020, as it phases out full expensing for investment.

The International Monetary Fund has said the tax cuts introduced by the Trump administration will give a temporary boost to the USA economy, but the tax reform effects will wear off in two years time.

That said, Mr Obstfeld describes longer-term prospects as "more sobering".

"IMF chief Christine Lagarde last week warned governments to "steer clear of protectionism in all its forms", saying the trade frictions hurt poor consumers the most as costs increase, and that they also undermined a system that had broadened prosperity worldwide".

But while advanced economies are expected to grow at 2.5% in 2018, slowing thereafter to 2.2% in 2019, emerging market and developing economies are expected to pick up the slack, growing at 5.1% in 2019, up from 4.9% in 2018.

House attributes the rosier USA outlook to federal tax cuts, a massive US$300-billion spending package and the possibility of an additional spending or infrastructure bill.

"Early recognition of non-performing assets, a reduction of forbearance, and gradually unwinding of the system of implicit guarantees to better align borrowing costs with risk-adjusted returns remain essential for improving credit allocation and containing the accumulation of vulnerabilities", the International Monetary Fund said.

"This IMF Statement follows recent positive reviews from the major credit rating agencies of our Government's economic plan and different priorities", Grant Robertson says.

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