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2nd LD: IMF projects global economy to grow 3.5 pct in 2015

Xinhua, April 14, 2015 Adjust font size:

The International Monetary Fund (IMF) said Tuesday that the global economy is estimated to grow 3.5 percent in 2015, on par with the forecast it made in January.

The growth rate is expected to pick up to 3.8 percent in 2016.

The outlook reflects an increase in growth in advanced economies but is offset by a decrease in growth in the emerging markets and developing economies, the Washington-based lender said in its biannual World Economic Outlook (WEO) report.

"Several advanced economies and some emerging markets are still dealing with crisis legacies, including persistent negative output gaps and high private or public debt or both," the report said.

"Global growth remains moderate, with uneven prospects across the main countries and regions," it said.

Growth in the United States is projected to hit 3.1 percent in 2015, with domestic demand supported by lower oil prices, more moderate fiscal adjustment and continued support from an accommodative monetary policy stance.

The euro area is showing signs of picking up, supported by lower oil prices, low interest rates and a weaker euro. After a disappointing 2014, growth in Japan is also projected to pick up, sustained by a weaker yen and lower oil prices.

China is expected to see growth ease to 6.8 percent in 2015 and 6.3 percent in 2016. Last year, its growth rate stood at 7.4 percent. Endi