WASHINGTON, July 17 (RIA Novosti) - The International Monetary Fund (IMF) has predicted that the global economy will grow 4.1% in 2008, up from an initial forecast of 3.7% in April.
According to the report, published in the World Economic Outlook on Thursday, "global growth is projected to moderate from 5% in 2007 to 4.1% in 2008 and 3.9% in 2009."
The IMF warned however that the global economy remained "a tough spot, caught between sharply slowing demand in many advanced economies and rising inflation everywhere, notably in emerging and developing economies."
The forecast for Russia's GDP by the IMF has remained almost unchanged since early June. The IMF has said that the Russian economy will grow by around 7.7% this year, boosted by high oil prices, and by 7.3% in 2009.
