Giovedi, 14 Dicembre, 2017

IMF expects Egypt's growth to reach 5.3% in 2019

Pedestrians walk past the International Monetary Fund headquarters’ complex in Washington Pedestrians walk past the International Monetary Fund headquarters’ complex in Washington
Esposti Saturniano | 13 Ottobre, 2017, 17:42

The Greek economy will grow by 2.6 percent next year, according to an International Monetary Fund report, exceeding the government's forecast for a 2.4 percent expansion.

If the IMF report - to be published in full on Wednesday - retains its primary surplus forecast for Greece at 2.2 percent of gross domestic product for next year, there may be a new discussion on additional fiscal measures of 2.3 billion euros so as to reach the target of 3.5 percent of GDP.

The report was issued on the sidelines of the annual meetings of the International Monetary Fund and the World Bank, which started today and continues until October 15, and in which Egypt participates with a high-level delegation including Sahar Nasr, Minister of Investment, Amr al-Garhy, Minister of Finance and Tariq Amer, the CBE Governor.

In terms of how much inequality is reduced by taxes and spending, the UK is close to average for the developed economies.

The IMF said Israeli consumer prices would climb 0.2% this year after falling 0.5% in 2016.

IMF said it no longer expected the United States to boost its economy through fiscal policy changes and pushed back on the GOP's argument that cutting taxes would expand the economy. "In India, growth momentum slowed, reflecting the lingering impact of the authorities' currency exchange initiative as well as uncertainty related to the midyear introduction of the country-wide Goods and Services Tax", the report said.

The question now is when the Indian economy will accelerate to its previous pace of growth.

It therefore appears that the IMF will play a crucial role in yet another review, and it is possible Lagarde will reveal the Fund's intentions to Tsakalotos and Houliarakis during Saturday's meeting, a week before the creditors' representatives are scheduled to return to Athens.

The IMF projected India to grow at 6.7% in 2017 and 7.4% in 2018, which are 0.5 and 0.3 percentage points lower than the projections earlier this year, respectively.

The lender revised down its forecast for U.S. economic growth from 2.3 percent to 2.1 percent from July and called on countries with significant debt to raise taxes to protect their financial stability.

The improvement in agriculture output is been driven by the various Central Bank of Nigeria (CBN) interventions in the sector namely the Anchor Borrowers Programme (ABP) and the Commercial Agricultural Credit Scheme (CACS).

It also says that income from capital needs to be taxed adequately.

Together, ASEAN-5, China and India are seen growing at 6.5% in 2017 and 2018, outpacing the aggregate growth of emerging and developing economies in the list.

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