Washington: The world is leaning less on its biggest economy to sustain the global recovery, according to the International Monetary Fund (IMF). The fund left its forecast for global growth unchanged in the latest quarterly update to its World Economic Outlook, released Monday in Kuala Lumpur. The world economy will expand 3.5% this year, up from 3.2% in 2016, and by 3.6% next year, the IMF said. In the April world economic outlook, it had forecast US growth of 2.3% and 2.5%, respectively, in 2017 and 2018. In the staff report, the IMF looked for average annual growth of 6.4% in China during 2018 through 2020.

Source: Mint July 24, 2017 06:11 UTC