WASHINGTON (Sputnik) — The International Monetary Fund (IMF) said in its World Economic Outlook report on Tuesday that the global economy is expected to grow at 3.2 percent in 2016, reflecting a slightly worse outlook than previously anticipated.
"We agree that the global recovery continues, and that financial markets have recovered most of the ground lost earlier in the year," Jiwei stated. "However, growth remains modest and uneven, and downside risks and uncertainties to the global outlook persist."
The IMF also stated in the report that the global economic situation is likely to improve in 2017 and the economy will reach a 3.5 percent growth, as geopolitical tensions in Ukraine and the Middle East are expected to ease.
The Fund warned, however, that shocks of a noneconomic origin, including geopolitical conflicts, terrorism and refugee flows, could have major spillovers on global economic activity if left unaddressed.
