Davos: IMF raises Saudi economic growth forecast for 2020

President Trump speaks at the White House on Saturday

The International Monetary Fund (IMF) says India's economy is poised to pick up this year.

Darmin also pointed to an expected global economic slowdown this year, as indicated by the IMF's growth projection of 3.5 percent, which was brought down from the earlier expectation of 3.7 percent.

The IMF projected 3.7 percent growth for the global economic in 2018 but said this growth will weaken to 3.5 percent this year before rising to 3.6 percent in 2020.

The minister also expects lower exports to the United States.

Advanced economies have been on a declining path in terms of growth and this is taking place more rapidly than previously thought, according to the report.

Corporate executives joined the International Monetary Fund in warning the global economy is slowing faster than expected, establishing a downbeat tone for this week's annual meeting of the World Economic Forum.

A gauge of world stock markets fell on Tuesday as concerns over global growth and trade gave investors incentive to look toward safe-haven assets such as the Japanese yen and government bonds.

China: Better December growth despite a slower Q4 - Standard Chartered
China's manufacturing purchasing managers' index (PMI) dropped to 49.4, the weakest reading since February 2016. Auto sales in the world's biggest vehicle market shrank for the first time in 2018 since the 1990s.

Trump Assails Pelosi's Rejection of 'Compromise' to End Government Shutdown
Temporary Protected Status (TPS) is given to nationals from designated countries affected by armed conflict or natural disaster. US President Donald Trump has proposed 2,750 more border agents and $5.7 billion for a steel barrier covering 370 kilometres.

Microsoft to End Support for Windows 10 Mobile This Year
However, the company is now pushing its first wave of the update to all remaining users who have otherwise avoided upgrading. Potentially, we could see some unique apps for both iOS and Android that Apple and Android developers haven't made yet.

The European Central Bank representatives declare that the rate increase will happen no sooner than autumn 2019, but over time the chances will rise that the actual increase will happen much later than this date, which may put pressure on the euro in the near future.

China's economy faces deep and complicated changes, President Xi Jinping said on Monday.

The IMF has cut its forecasts for worldwide growth and said the picture could become even darker if global tensions are not resolved. The World Bank, the Organization for Economic Cooperation and Development, and other forecasters have also downgraded their world growth estimates.

Lagarde urged policymakers to address economic vulnerabilities, especially by reducing high government debt. Despite the fiscal stimulus that offsets some of the impacts of higher USA tariffs, China's economy will slow down due to the combined influence of needed financial regulatory tightening and trade tensions with the US. The Washington-based lender said the outlook for emerging markets and developing economies reflected the continued headwinds from weaker capital flows following higher USA policy rates and exchange rate depreciations.

In Italy, where anti-establishment governing parties are arguing with Brussels over a planned spending boost, growth of only 0.6 per cent is expected this year against a previous forecast of 1 per cent.

"Sometimes we spook ourselves, so it remains to be seen how slow is slow, how bad is bad, let's see how the first quarter looks", said Cha. "On the trade side it's important to come together, to have a cooperative solution that's permanent and that would be good not just for the U.S. and China, but for the global economy". This revision mainly reflects additional fiscal support to the economy this year, including measures to mitigate the effects of the planned consumption tax rate increase in October 2019.

Related news:

Hot News

isis-killer-beheading-video-story-top Taliban attack on military base kills at least 65, Afghan officials say
Jan 23, 2019 - 11:37
But late previous year , President Ashraf Ghani said more than 28,000 Afghan police and soldiers had been killed since 2015. On Sunday, a Taliban suicide bomber rammed an official convoy in Logar province, which borders greater Kabul .

isis-killer-beheading-video-story-top Pompeo hints optimism as US, North Korea end talks in Sweden
Jan 23, 2019 - 11:12
The White House is upbeat about the second Washington-Pyongyang summit set to be held next month. At a meeting with the South Korean president last fall, Mr.

isis-killer-beheading-video-story-top Halep not intimidated by Serena ahead of Melbourne showdown
Jan 23, 2019 - 09:57
Might Venus offer her sibling any tips? She later told reporters that Yastremska's tears are evidence of great sportsmanship. Williams has produced three straight emphatic victories on her way to the fourth round . "She's been a lot on No 1".

isis-killer-beheading-video-story-top Maps: Here's the timing of the snow forecast for January 19
Jan 23, 2019 - 09:53
The strong winds and drifting snow could significantly reduce visibility, making travel very hard . Baldy ski resorts reopened Friday after earlier storms brought both rain and high winds.

isis-killer-beheading-video-story-top Rashford on same level as Ronaldo, Rooney, says Solskjaer
Jan 22, 2019 - 10:30
Brighton improved in the second-half and got one back on 72 minutes, with Pascal Gross firing in off the bar. It is easy to forget Rashford is only 21.

isis-killer-beheading-video-story-top Rep. Thomas Massie supports Covington Catholic students under social media attack
Jan 22, 2019 - 09:30
Jesscia Travis and her mother were visiting the Lincoln Memorial as dancers at the Indigenous Peoples' Day March were wrapping up. The men from the Black Israelites group were also acting up, said Phillips, and one member spit in the direction of the students.

isis-killer-beheading-video-story-top California Senator Kamala Harris announces 2020 White House run
Jan 22, 2019 - 08:45
Harris has responded to the criticism from progressives by saying the left needs to get over its bias against law enforcement. But Donald Trump was laying the groundwork for our community's revival even when he was still just a candidate for president.

isis-killer-beheading-video-story-top Serena Williams still the 1 to watch at Australian Open
Jan 22, 2019 - 06:55
As the master of ceremonies in the Rod Laver Arena announced the entrance of "the world No 1 from.", out walked Serena Williams . Nine commentator and tennis legend John McEnroe said, complimenting her mindset before the match.

isis-killer-beheading-video-story-top Anirban Lahiri shoots 65 to rise to T-21st at Desert Classic
Jan 21, 2019 - 02:54
At the 165-yard par-3 17th, Straka hit a tee shot 162 yards at the green, setting himself up for the 24-foot putt for birdie. One-time PGA Tour victor Adam Hadwin and long-time pro Steve Marino round out the top three at 13 under.

isis-killer-beheading-video-story-top Seoul welcomes planned second summit between Trump, Kim
Jan 21, 2019 - 01:19
But for that to happen, it's important that Biegun and Choi lay the groundwork over the next few weeks, experts say. But the summit ushered in a new era for diplomatic ties between the two entities on the Korean peninsula .

isis-killer-beheading-video-story-top Solskjaer salutes Rashford as league 'best' in Kane absence
Jan 21, 2019 - 01:15
When you are full of confidence you think you are going to win every game". "We need to improve a few things", he said. I think [Pochettino] gets the best out of his players whether they are younger or older.

isis-killer-beheading-video-story-top Tottenham Hotspur can cope without Harry Kane, says manager Mauricio Pochettino
Jan 21, 2019 - 00:59
That is eight more than second-place Heung-min Son (12), who is on global duty with South Korea. Harry Kane and Son Heung-min now are missing for manager Mauricio Pochettino .

isis-killer-beheading-video-story-top Roger Federer reveals one issue after Stefanos Tsitsipas loss - ‘It’s hard’
Jan 20, 2019 - 16:58
After the match, Federer praised his young opponent: "It definitely didn't go the way I was hoping on the break points".

isis-killer-beheading-video-story-top Renault posts record sales as Ghosn successor sought
Jan 20, 2019 - 16:43
She had yet to be held to Ghosn, in Japan serious breach of trust and financial violations accused. However, the companies said, neither of the two knew anything about it.

isis-killer-beheading-video-story-top Serena Williams powers into third round of Australian Open
Jan 20, 2019 - 16:00
If he's able to come back and play tennis, if that's what he wants to do, then I'm sure he'll give it everything he can. Williams is 8-2 in her career against Halep and has faced her only twice in Slams, taking both meetings.