Current location:Earthly Encounters news portal > business
‘Robust' US has helped improve global economic outlook, IMF chief says
Earthly Encounters news portal2024-05-21 17:16:11【business】4People have gathered around
IntroductionWashington —Strong growth in the United States has helped to lift the outlook for the world economy,
Strong growth in the United States has helped to lift the outlook for the world economy, but more needs to be done to stem a slide in productivity, the head of the IMF said Thursday.
"Global growth is marginally stronger on account of robust activity in the United States and in many emerging markets economies," International Monetary Fund Managing Director Kristalina Georgieva told reporters in prepared remarks.
The U.S. economy grew by 2.5 percent last year, according to the U.S. Commerce Department, far outstripping most other advanced economies.
"Robust household consumption and business investment, and an easing of supply chain problems helped," Georgieva added. "And inflation is going down, somewhat faster than previously expected."
She spoke just a few days before the IMF-World Bank spring meetings of world financial leaders in Washington, one of two such gatherings hosted each year by the international financial institutions.
Her remarks suggest the IMF now expects the world economy to grow faster than it predicted in January, when it forecast global growth to rise by 3.1 percent in 2024, and 3.2 percent in 2025.
"It is tempting to breathe a sigh of relief. We have avoided a global recession and a period of stagflation — as some had predicted," Georgieva said. "But there are still plenty of things to worry about."
Among the challenges, Georgieva mentioned rising geopolitical tension, which, she said, is increasing the risks of fragmentation of the global economy.
She also highlighted the challenges of growing public debt and a "broad-based slowdown in productivity."
Because of this, the IMF expects growth to remain at just above 3 percent over the medium term — below its historical average.
To help the global economy to heal and fix the productivity challenge, Georgieva laid out a series of steps to bring global inflation and public debt back down to sustainable levels, and also called for steps to eliminate "constraints to economic activity" and boost productivity.
"In short, if there is a market failure that is being addressed — such as accelerating innovation to address the existential threat of climate change — there is a case for government intervention, including through industrial policy," she said.
"If there is no market failure, there is a need for caution," she added.
Address of this article:http://zimbabwe.cassettedesign.com/content-3d099996.html
Very good!(649)
Related articles
- Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
- Japan urged cooperation in international monitoring for the disposal of nuclear
- NPC reveals agenda legislators will deliberate
- More outbound flights expected for Spring Festival
- Dodgers acquire pitcher Yohan Ramírez from Mets for cash
- China emphasizes neighborly cooperation in diplomacy: NPC spokesman
- Manila move a violation of sovereignty
- Academicians vow greater contributions
- Georgia Republicans choose Amy Kremer, organizer of pro
- Feature: Chinese
Popular articles
Recommended
Why US Catholics are planning pilgrimages in communities across the nation
China slams U.S.' citing mutual defense treaty to back Philippine provocations in South China Sea
More outbound flights expected for Spring Festival
Sierra Leonean president's China visit to enhance cooperation, friendship
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
FM calls for consensus on advancing human rights
Continued evolution of law improves governing capacity
China slams U.S.' citing mutual defense treaty to back Philippine provocations in South China Sea
Links
- Israel will respond to genocide charges at UN court after South Africa urgently requests cease
- Vermont to grant professional licenses, regardless of immigration status, to ease labor shortage
- AP Week in Pictures: Global
- The Netherlands says it will opt out of EU rules to bring in its 'strictest
- Your garden waste is anti
- Stock market today: World shares retreat, though China stocks are lifted by new property measures
- AP Week in Pictures: Global
- HKSAR government denounces U.S. consul general's remarks on security law in Hong Kong
- The real cost of your night out: From a £4.60 Diet Coke to £8.80
- Mark Hanson, Bricoleur Vineyards owner, is accused of raping and abusing his younger sister over six