World

IMF Raises Israeli Economic Outlook for 2017, 2018

IMF Raises Israeli Economic Outlook for 2017, 2018

Every other advanced economy has had its growth predictions for this year revised upwards and the United Kingdom is now predicted to grow more slowly than the Euro Area, which is forecast to see 2.1 per cent growth in 2017.

The International Monetary Fund (IMF) has said that the UAE economy will grow 3.4 per cent in 2018, at the second fastest growth rate in the GCC, while an upswing in the world economy would likely gather pace into next year. Growth over the same period in the 19-member single currency bloc was 0.6 per cent.

"The global recovery is continuing, and at a faster pace", Maurice Obstfeld, IMF economic counsellor and director of research, said at a press conference on the release of the October World Economic Outlook on Tuesday in Washington. The UK economy is beset by doubts over the final arrangements of its exit from the European Union while doubts over the USA economy have led to marginally reduced growth expectations. "I think we're starting to see those".

When the fund first estimated the 2017 growth of the United Kingdom economy in 2012, it projected an annual expansion of 2.84 per cent.

The U.S. outlook for 2017 had been cut by 0.1 percentage points, and its 2018 forecast had been cut by 0.2 percentage points in the Fund's April report, but then revised upwards in July by the same amounts.

That would put Canada ahead of all the other Group of Seven countries, with the United States coming second at 2.2 per cent growth from previous year.

Lesetja Kganyago, Governor of the SA Reserve Bank, said on September 21 that the bank's forecast for GDP growth for 2017 was 0.6%, with forecasts for 2018 and 2019 of 1.2% and 1.5% respectively.

More news: 'Serena will be back': Australian Open director backs Williams' return
More news: Royals give 2 million pounds to Heads Together mental health campaign
More news: Jay Shah says he will sue news portal for Rs 100 crore

However, the recovery is not complete: although the baseline outlook is better, growth remains weak in many countries.

The IMF maintained that Mr Hammond will be able to keep to his self-imposed rule to bring borrowing down to 2 per cent of national income by 2020-21.

The Fund said that over the longer term, USA economic growth would moderate due to sluggish productivity growth and changing demographics.

South African growth should tick up to 1.1 percent next year, slightly lower than an earlier forecast of 1.2 percent, the International Monetary Fund added in its October world economic outlook.

"Both private consumption and exports are expected to remain buoyant going forward, while hurdles to budget execution are also gradually being overcome", AMRO said.

The report projected India to regain the top spot next year with a 7.4 percent gross domestic product (GDP) growth rate.

Since the float, Egypt's central bank has raised key interest rates by a total of 700 basis points.


  • Blade Runner 2049 ends weekend slightly up on original box office estimates

    Blade Runner 2049 ends weekend slightly up on original box office estimates

    Based on the Hasbro toys and TV series, the movie's voice cast includes Emily Blunt , Kristin Chenoweth, Uzo Aduba, and Sia. Warning: There are SPOILERS ahead for Blade Runner 2049 . "We did well in the major and high-profile markets", he said.
    Gasoline prices falling to pre-hurricane levels

    Gasoline prices falling to pre-hurricane levels

    AAA reports the lowest average price can be found in the Saginaw-Bay City-Midland area where it's about $2.30 a gallon. Nebraska's average slipped 4 cents in the past week to $2.42, while Iowa was down 3 cents to $2.42, AAA reported.
    Title Change In the WWE Hell In a Cell Opener Tonight

    Title Change In the WWE Hell In a Cell Opener Tonight

    Smackdown Women's Championship title failed to change hands inspite of Charlotte Flair victory over current Champion Natalya. There was the occasional comedy you expect from the New Day - trombones aplenty - but the storytelling here was impeccable.
  • United Nations  bans 4 ships from global ports for violating N Korea sanctions

    United Nations bans 4 ships from global ports for violating N Korea sanctions

    In August, the United Nations adopted a resolution prohibiting North Korea from exporting coal, seafood and iron ore. Prohibitions on authorizing new permits to North Korean workers to work overseas are also in place.
    Watch the first teaser for JJ Abrams' new series

    Watch the first teaser for JJ Abrams' new series "Castle Rock"

    The show is being written by Sam Shaw and Dustin Thomason, and is said to be done in the spirit of King's work. The teaser opened with a scene of Andre Holland's attorney Henry Deaver looking around the city of Maine.
    Tyrrell Hatton Set Dunhill Links Record

    Tyrrell Hatton Set Dunhill Links Record

    Fisher poured in four more birdies on the back nine to pull within three with three holes to go and enter 59 watch. Hatton, who wins US$800,000, said: "I've got a new caddie on the bag at the moment, my good friend, Jonathan".
  • Seeking to relaunch social agenda, UK's May to address racial disparity

    Seeking to relaunch social agenda, UK's May to address racial disparity

    Tuesday's audit release coincided with new research that suggested ethnic-minority women are being hardest hit by austerity.
    Australia to field against India in second T201

    Australia to field against India in second T201

    His spell of four overs was enough to break the backbone of Indian batting which was hardly tested in the ODI series. One big disappointment for India were their spinners who could not provide a breakthrough in the middle overs.
    New emojis coming to iPhones

    New emojis coming to iPhones

    Since Apple has chose to tease which emojis will be coming out with iOS 11.1, we thought we would give you a small rundown. Save for later feature is also being tested by the users as the giant has started pushing the new update for the testers.
  • Should You Worry About Faulty Metals in Your Car?

    Should You Worry About Faulty Metals in Your Car?

    Nissan Motor and Mitsubishi are also top customers of Kobe Steel and said they are checking whether their vehicles are affected. The false data supplied to automakers was meant to make metals look like they met clients' quality standards.
    Cowboys owner Jerry Jones says players 'disrespecting flag' won't play

    Cowboys owner Jerry Jones says players 'disrespecting flag' won't play

    FRISCO, Texas - Dallas Cowboys coach Jason Garrett has not had any discussions with Jerry Jones regarding the owner and general manager's comments Sunday that players "disrespecting the flag" would not play. "If there's anything that is disrespectful to the flag, then we will not play", Jones said Sunday.
    Iceland becomes smallest country to qualify for World Cup

    Iceland becomes smallest country to qualify for World Cup

    Iceland coach Heimir Hallgrimsson was in disbelief after his team qualified for the 2018 World Cup with a 2-0 win over Kosovo . Any other result puts it in jeopardy of missing the World Cup for the first time since 1970.