IMF Managing Director Kristalina Georgieva is seen during the annual meeting of the World Economic Forum, in Davos, Switzerland, on Jan. 20, 2020.Low interest rates and reduced trade tensions will likely buoy the global economy over the next two years and help nurture steady if modest growth.
And an interim trade deal signed last week by the United States and China – the world’s two biggest economies – is expected to add 0.2 percentage point to global growth this year by lowering tariffs and improving business confidence. The global economy is rebounding from some temporary stumbles, including a lull in the launch of new technology products and new emissions standards that disrupted car production.
Economic growth in Canada is forecast to be 1.8 per cent in 2020 and 2021, unchanged from projections made in October, according to the report. Likewise, Japan’s economic growth, hobbled by an aging work force, is expected to decelerate from one per cent last year to 0.7 per cent this year to 0.5 per cent next year.
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