The International Monetary Fund (IMF) head said on Tuesday that he expects global economic growth to be below 3

Key Highlights :

1. The world economy is expected to grow less than 3% this year, down from 3.4% last year.

2. Growth is expected to remain around 3% for the next five years, calling it “our lowest medium-term growth forecast since 1990, and well below the average of 3.8% from the past two decades.”

3. slower growth would be a “severe blow," making it even harder for low-income nations to catch up.

     The International Monetary Fund chief said Thursday the world economy is expected to grow less than 3% this year, down from 3.4% last year, increasing the risk of hunger and poverty globally. Kristalina Georgieva said growth is expected to remain around 3% for the next five years, calling it “a very low number.”The IMF’s World Economic Outlook report, released Thursday, projects global growth of 3.1% in 2019, 3.3% in 2020, 3.4% in 2021, 3.5% in 2022 and 3.6% in 2023. The report said that the global economy is “still too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”The IMF’s chief economist, Maurice Obstfeld, said that the global economy is “still too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”Georgieva said that the global economy is still “too weak” and that “growth is projected to be significantly lower than what is needed to achieve the target of doubling global poverty reduction by 2030.”\

Continue Reading at Source : castanet