Where Economies Are Growing

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.