The IMF and World Bank finished up their three-day annual conference, which took place in Bali, Indonesia over the weekend, releasing forecasts and evaluations of the world economy. Christine Lagarde announced a slight devaluation of the global economy, largely due to restrained growth from heightened trade tensions and tariffs. The IMF estimates that the global economy will grow at a 3.7 percent rate this year, down 0.2 percentage points from their last forecast.
Despite this revision, certain economies are still projected to grow. Saudi Arabia is set to have a 3.1 percent jump in economic growth, after experiencing a shrinking GDP in 2017. Turkey’s economy in 2018 has shrunk from its 2017 size, after rising inflation and growing political unrest have sidetracked some of the countries’ growth.
This chart shows the percent change between 2017 GDP growth and projected 2018 GDP growth.
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