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IMF: The global economy recovered slowly but surely

The global economy still faces with many risks and needs strong support policy, according to the IMF in WEO update report.

International Monetary Fund (IMF) has released World Economic Outlook update report (WEO). In particular, the IMF said that the global economy has grown more slowly than forecast in the first quarter/2014, largely due to a number of temporary factors such as the harsh winter weather had dragged down domestic demand in the US.

The WEO update report predicted global growth will revive because of fade temporary obstacles and economic support policies now have a strong foundation. For example, in China, the government has implemented small stimulate measures  to boost domestic demand. The global economy is expected to grow 3.4% in 2014 and 4 % next year. However, the forecast for 2014 was lower than forecast in April of IMF, reflecting the weak reality of the economy in the first quarter as the domestic demand slowdown in the emerging markets. Growth forecast for 2015, by contrast, remains constant, strengthening the belief that some advanced economies will grow strongly, compensating for weak growth in the emerging markets.

Meanwhile, the outlook for the Euro area almost unchanged in a WEO report in April, and still no uniformity among member economies.Financial difficulties and accounting balance sheets along with high unemployment rates will lead to slower growth in some economies.

In addition, many economies need to implement structural reforms to promote investment and growth.

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