International Monetary Fund predicts 7.3% growth rate for India in current fiscal year

President Trump addresses the International Association of Chiefs of Police at its annual convention Monday in Orlando

Gian Maria Milesi-Ferretti, deputy director at IMF's research department stated this on Tuesday, October 9, 2018, at the annual meetings of the International Monetary Fund and World Bank Group in Bali, Indonesia.

With much of the U.S.

"India's growth is expected to increase to 7.3 percent in 2018 and 7.4 percent in 2019 (slightly lower than in the April 2018 World Economic Outlook (WEO) for 2019, given the recent increase in oil prices and the tightening of global financial conditions), up from 6.7 percent in 2017", it said in the WEO report.

If China and the United States were to resolve their trade differences, it "would be a significant upside to the forecast". The IMF called for reforms in labour and land markets in the country, as well as improving the business climate.

Japan would see its 2019 growth rate more than halved, from 0.9% to 0.4%, under the worst case scenario.

One of the most comprehensive studies of the state of banking and markets since the financial crisis warns that "dangerous undercurrents" are a rising threat to the world economy. Two weeks after that date, Hungary's Central Statistical Office (KSH) revised first-half GDP growth up 0.1 percentage point to 4.7 percent. And, as with the United States, the International Monetary Fund left its estimates for China's growth for 2018 unchanged at 6.6%.

Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation receiving upgrades to growth forecasts. Furthermore, rising interest rates will also divert investment capital from emerging markets, causing further pain overseas.

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Trade tensions are expected to continue although Fund officials view U.S. -Mexico-Canada trade agreement as a positive sign.

"However, it is projected to rise to 5.1 percent in 2019", the report said.

U.S. tariffs on China, and more broadly on auto and auto part imports, may disrupt established supply chains, especially if met by retaliation, it added.

Yi also expressed his confidence in the progress of this campaign to reduce financial risks. Angola, contracting by 0.1 percent this year.

Still, the trade disputes sparked by President Donald Trump that have led to tit-for-tat exchanges of tariffs among major trading partners are affecting China, other Asian economies and more vulnerable countries like Argentina and Turkey, along with Brazil. It also assumes that Trump imposes a 25 percent tariff on imported cars and auto parts.

At the worst, which includes Trump pushing through with tariffs on all Chinese goods and on imports of cars and auto parts that spark a round of reprisals, as well as denting confidence and provoking a negative market reaction, the impact would be less than one percentage point on global growth.

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