imf trims economic forecast for us
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

IMF trims economic forecast for US

Arab Today, arab today

Arab Today, arab today IMF trims economic forecast for US

The IMF’s forecast is that annual gross domestic product (GDP)
Washington - Arab Today

The International Monetary Fund (IMF) has trimmed its outlook for the US economy, citing the number of uncertainties that surround President Donald Trump’s plans to boost economic growth.
The IMF forecast that the US economy will grow this year at an annual rate of 2.1 percent. That would be an improvement over last year’s lackluster 1.6 percent growth rate but down from the IMF’s April forecast for growth this year of 2.3 percent.
The IMF also trimmed growth for next year and said that the economy would have a hard time achieving the 3 percent growth goal set in the president’s first budget.
The new growth figures were included in the IMF’s annual review of the US economy issued on Tuesday. The report said that it lowered its forecast because it was evident that many parts of the administration’s tax and spending plans remained undecided.
Given these uncertainties, the IMF said the decision was made to make no assumptions about which parts of Trump’s program would win approval in Congress and instead use a projection that current policies remain unchanged.
The IMF’s forecast is that annual gross domestic product (GDP) growth of 2.1 percent this year and 2.1 percent next year would slow to 1.9 percent in 2019 and 1.8 percent in 2020. By contrast, the administration’s budget released in May projects rising GDP rates in coming year hitting 2.9 percent in 2020 and then turning in growth of 3 percent for each year after that through 2027.
The current economic expansion, now the third longest in the US history, has averaged weak growth around 2 percent since the recovery began eight years ago in June 2009.
The IMF said the administration’s forecast that its policies can lift that growth rate by a full percentage point to 3 percent was “unlikely.”
In a statement, the Treasury Department said that it appreciated the IMF’s support for the administration’s broad policy efforts in such areas as boosting infrastructure investment and simplifying the tax system.
“The administration is committed to generating sustainable economic growth that will benefit both the American and global economy,” the Treasury statement said. “We are focused on making significant reforms to our tax and regulatory policies, as well as renegotiating trade agreements to be more balanced for American workers which will lead to a stronger economic growth and job creation.”
On trade, the IMF said that the US dollar was “moderately overvalued” by around 10 to 20 percent. A stronger dollar hurts US exports by making American products more expensive on overseas markets while making imports cheaper in the US market.
The IMF said that the US economy would benefit by keeping its markets open as it pursues new and renegotiated trade agreements.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf trims economic forecast for us imf trims economic forecast for us

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf trims economic forecast for us imf trims economic forecast for us

 



GMT 05:42 2017 Monday ,28 August

4 Daesh militants killed in Afghanistan

GMT 10:00 2016 Wednesday ,04 May

VAT reform to benefit foreign firms, too

GMT 10:01 2016 Tuesday ,15 November

Ahead of questioning as probe widens

GMT 09:20 2017 Wednesday ,03 May

Windies respond after Ali ton, Misbah out for 99

GMT 19:42 2017 Thursday ,31 August

Spurs complete deal for PSG's Aurier

GMT 10:42 2016 Tuesday ,27 December

Mother Accused Of Selling Baby For Dh10,000

GMT 16:20 2017 Friday ,04 August

Rawda Al Mehy invents a new idea to design

GMT 08:59 2017 Tuesday ,14 February

Saudi tourism to reach $81 billion by 2026

GMT 15:19 2017 Monday ,16 October

Valencia storm to second in nine-goal thriller

GMT 17:19 2016 Monday ,19 December

5 dead in drive-by shooting at Karak Castle in Jordan

GMT 14:14 2010 Thursday ,30 September

2011 Ford Mondeo thoroughly updated

GMT 19:51 2017 Monday ,09 October

Ties with Saudi Arabia ‘as old as Pakistan

GMT 04:14 2017 Thursday ,28 September

Malaysian Muslim-only laundrette stirs anger

GMT 09:49 2016 Wednesday ,19 October

Rosneft enters India with $13bn Essar deal

GMT 18:11 2017 Thursday ,15 June

Oman Air sponsors six employees to perform Haj

GMT 07:32 2015 Saturday ,13 June

Britney Spears debuts short haircut

GMT 14:23 2017 Tuesday ,24 October

Turkey’s interest in the Kurdish conundrum

GMT 03:51 2017 Tuesday ,01 August

Boost to Kuwaiti-Turkish ties

GMT 10:40 2016 Thursday ,06 October

Malaysia frees Australia's 'Budgie 9'

GMT 11:58 2017 Tuesday ,03 January

US sock it to Spain in Hopman Cup

GMT 17:59 2016 Monday ,19 September

Suu Kyi gets humanitarian award

GMT 08:42 2016 Wednesday ,07 December

At Milaidhoo Island, Maldives
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday