International Monetary Fund forecasts 2.3% growth for Tunisia in 2017, 3% in 2018

IMF and World Bank meet in Washington DC

IMF and World Bank meet in Washington DC

Over the past week, the International Monetary Fund has released revisions to its biannual economic forecasts, predicting global growth rates of 3.6% in 2017 and 3.7% in 2018-the highest in a decade.

In its latest World Economic Outlook - the global forecast and survey the Washington-based organization publishes and updates periodically - the International Monetary Fund upgraded its global economic growth forecast for 2017 by 0.1 percent to 3.6 percent. Morocco is expected to report 4.8% growth this year and 3% growth in 2018 and Egypt 4.1% growth this year and 4.5% growth in 2018.

In the press conference, Ning said: "China will definitely have no problem meeting its economic growth target of around 6.5 percent this year, and may even beat it, as the economy maintains medium to high growth".

'After disappointing global growth over the past few years, this recent pickup provides an ideal window of opportunity for policymakers to undertake critical reforms to stave off downside risks, raise potential output, and improve living standards more broadly, ' the report indicated. The Chinese economy is predicted to grow by 6.8 percent in 2017 and by slightly less in 2018.

China's slower transition from an investment-based economy to a consumption-based one, the report said, "comes at the cost of further large increases in debt".

In comparison, China's GDP growth has kept slowing down since 2010 and hit a 26-year lowest with 6.7% last year.

The unemployment rate is expected to reach 13% in 2017 and 12% in 2018, compared to 14% in 2016.

The government will publish third-quarter growth data on October 19.

After years of sluggish global growth and less than rosey predictions about the future, the IMF's latest forecasts suggest calmer waters ahead.

But it was less optimistic on the country's long-term prospects, citing the shrinking Japanese labour force.

The IMF lowered India's forecast growth to 6.7 percent from the 7.2 percent predicted in July.

Reviewing the problems of the Tunisian economy, namely, the low economic growth and a sharp rise in public spending including wages, combined with delays in implementing key reforms, the high unemployment, the WB estimated that the national unity government -a coalition of the main political parties and social partners-was formed a year ago, to tackle the needed reforms, but identifying a first move has proven hard.

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