International Monetary Fund says global economy will slow after 2019

Global growth is expected be 3.9% in 2018 and 2019: IMF

IMF maintains 3-pct growth forecast for S. Korea

Slovenia's average annual inflation is seen at 1.7% this year and 2.0% in 2019, following a growth of 1.4% in 2017.

India's growth rate in 2016 was 7.1 per cent as against China's 6.7 per cent.

"Business confidence is likely to gradually firm up with the change in the political leadership, but growth prospects remain weighed down by structural bottlenecks", the global lender said in its latest World Economic Outlook published in Washington.

The sweeping USA tax cuts approved in December will fuel higher growth only through next year, the International Monetary Fund said.

The World Bank made a similar prediction in January, saying growth could start flagging in the next couple of years as major economies such as the United States, China and the European Union begin to cool.

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However, the International Monetary Fund cautioned that the growth "momentum is not assured", given trade tensions between the United States and China and the expected reversal of the positive effects from the USA tax cuts.

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"Despite the good near-term news, longer-term prospects are more sobering", IMF Chief Economist Maurice Obstfeld said. Overall, the Irish economy expanded by about 7.8 per cent in 2017, which means that iPhone sales would have accounted for a quarter of that, or about 2 per cent of overall growth.

The global recovery is supported by "strong momentum, favorable market sentiment, accommodative financial conditions, and the domestic and worldwide repercussions of expansionary fiscal policy in the United States", the IMF said.

He warned that "the prospect of trade restrictions and counter-restrictions threatens to undermine confidence and derail global growth prematurely". Trump, who campaigned on a pledge to protect US industries from what he argues is unfair foreign competition, has slapped tariffs on steel and aluminum imports.

The IMF also highlighted some risks for the Turkish economy.

Rather than lower the trade deficit, as Trump has called for, the United States trade actions could expand it by $150 billion by 2019, he said. Growth in 2019 was lowered to 1.9 per cent from 2.2 per cent in the January forecast.

But for the next few decades, the risks to the global growth forecasts were broadly balanced, it added, with the potential for stronger business profits to increase hiring and investments that could boost productivity. It projected that in general, the global economy would grow by 3.9 percent.

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