IMF Raises Projection for Growth of Global Economy

The International Monetary Fund has modified its projections for growth in the 2010 global economy, suggesting an expansion of 3.9%, up from the 3.1% it estimated back in October.

According to the IMF’s World Economic Outlook report growth in the global economy would be led by China which is expected to expand 10% this year. The report also suggested the U.S. economy would grow by 2.7%, nearly double its earlier predictions.

While the IMF stated there were strong signs of a global recovery following the worldwide recession it was pointed out that while there was growth in some regions, other areas were still experiencing struggles.

Growth in the global economy has been credited to the government stimulus that has been injected into several countries. The IMF has encouraged those policies to continue, warning an early exit would “undermine global growth.”

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