IMF revises up global economic growth to 3.9% for 2010
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The International Monetary Fund (IMF) said Tuesday the world economy was recovering faster than previously anticipated and would grow 3.9 percent this year and 4.3 percent in 2011.
The IMF said it had revised upward its earlier forecast for global growth by 0.75 percentage points from its forecast in October 2009.
But the recovery is proceeding at different speeds around the world, with emerging markets led by Asia relatively vigorous and advanced economies still sluggish and dependent on government stimulus measures, the IMF said in an update to its World Economic Outlook.
According to the update, output in the advanced economies is now expected to expand by 2 percent in 2010, following a sharp decline in 2009.
In 2011, growth is predicted to edge up further to 2.5 percent.
Among forecasts for advanced economies, growth in the United States, the world's largest economy, will reach 2.7 percent this year, a 1.2-percentage-point increase from the prior forecast.
The euro zone is expected to grow 1 percent this year and 1.6 percent in 2011, while Japan is seen expanding 1.7 percent this year and 2.2 percent next year.
"In spite of the revision, the recovery in advanced economies is still expected to be weak by historical standards, with real output remaining below its pre-crisis level until late 2011," said the report.
