IMF Raises Canadian Growth Forecast
CBJ — The International Monetary Fund has raised its estimate for economic growth in Canada this year to 2.3%, up from the predicted 2.1% estimate it made in October. The increased estimate is largely based on U.S. tax cuts, which are expected to help boost global economic growth.
Growth for 2019 is forecast at an even 2%, up from the 1.7% projection made in October.
On an international scale, the world output is expected to grow 3.9% this year and in 2019.
“This forecast reflects the expectation that favourable global financial conditions and strong sentiment will help maintain the recent acceleration in demand, especially in investment, with a noticeable impact on growth in economies with large exports,” the IMF wrote in its detailed report.