IMF lifts ‘non-Brexit’ Irish growth forecast

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IMF lifts ‘non-Brexit’ Irish growth forecast

 


Stock image: PA Wire/PA Images
Stock image: PA Wire/PA Images

The International Monetary Fund (IMF) has cut its global economic growth forecasts for 2019 and warned growth could slow further including because of a potentially messy Brexit.

The IMF raised the growth forecast for Ireland, by 0.1pc point to 4.1pc this year, but that figure does not allow for the risk of the UK crashing out of the European Union without a deal.

In a third global downgrade since October, the IMF said some major economies, including China and Germany, might need to take short-term actions to prop up growth.

A sharp slowdown in Europe and some emerging market economies will give way to a general re-acceleration in the second half of 2019, the IMF reckons.

Global growth will likely be 3.3pc this year, the slowest since 2016, the IMF said.

More than two-thirds of the expected slowdown in 2019 owes to trouble in rich nations.

A no-deal Brexit would see the UK economy shrink 1.4pc this year.

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Irish Independent

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