IMF revises up global GDP forecast to near 4% for 2010
International Monetary Fund released (26-Jan-2010) its World Economic Outlook global GDP forecasts for 2010 and 2011, stating the global economy is "recovering faster than previously anticipated, but is proceeding at different speeds around the world, with emerging markets, led by Asia relatively vigorous, but advanced economies remaining sluggish and still dependent on government stimulus measures". GDP forecast highlights include:
- 2010: 3.9% year-on-year (+0.75 ppts from Oct-2009 forecast);
- 2011: 4.3%. [more] [more - Perspective]
IMF: “For the moment, the recovery is very much based on policy decisions and policy actions. The question is when does private demand come and take over. Right now it’s ok, but a year down the line, it will be a big question,” Olivier Blanchard, Chief Economist. Source: IMF, 26-Jan-2010.