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In the previous report of October a year ago, the International Monetary Fund forecast 8 percent inflation rate in Azerbaijan.

As per the report, the country's economic growth is expected to be 7.8 per cent in 2019.

According to this data, the growth of the Spanish economy would exceed the average of 2.4 percent and 2 percent predicted for the Eurozone for 2018 and 2019 respectively.

The IMF warned the expansion could be derailed if countries resort to tit-for-tat trade sanctions.

"Recent import restrictions announced by the United States, announced retaliatory actions by China, and potential retaliation by other countries raise concerns in this regard and threaten to damage global and domestic activity and sentiment", the International Monetary Fund said.

However, the Fund's chief economist, Maurice Obstfeld, said that the U.S. should be deeply wary of starting a trade conflict with China, on which it has threatened to impose tariffs.

Its World Economic Outlook released Tuesday foresees growth in Canada of 2.1 per cent this year and two per cent next year. Just 5 percent of money managers project the global economy to be stronger in the next 12 months, the lowest level since June 2016, according to the bank's April survey.

The 2017 recapitalisation plan for major public sector banks will "improve the banking sector's ability to support growth", the report said.

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However, Kono warned there would be "no true improvement of Japan-China relations without stability in the East China Sea". Japanese officials said Kono and Wang agreed on the importance of maintaining the world's system of free trade.

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Marketplace host Kai Ryssdal called up Kathy Bostjancic, the chief US financial markets economist at Oxford Economics to get some context on the economic growth projections.

It forecasts the Irish economy to grow at 4.5% this year and 4% next year. "Continuing to power the world economy's upswing are accelerations in investment and, notably, in trade", he said.

While President Trump's tax cuts are expected to boost the USA and global growth in the short term, the report warned that those effects will soon wear off as well.

He also pointed to the trade tensions that already exist, with skirmishes over steel tariffs and the U.S.

House attributes the rosier US outlook to federal tax cuts, a massive $300-billion (U.S.) spending package and the possibility of an additional spending or infrastructure bill. That's lower than the 8.9 percent forecast in October, and is also less than the raised 7.4 percent estimate for Ivory Coast and the prediction for Ethiopia, which was held at 8.5 percent.

South Africa's economy grew by 1.3 percent in 2017 compared with a revised 0.6 percent in 2016. The New Zealand government has signalled it expects to spend $42 billion over the next five years, spearheaded by the KiwiBuild programme.

Writing in a blogpost as politicians and central bankers gather in Washington for the IMF's regular spring meetings, she said there was hope for a world where firms using digital currencies could coexist alongside traditional banks.


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