Global Economic and Financial Prospects and Policies With 3,1% and 3,4% growth in 2016 and 2017, world economic growth is near its long term average of 3,5%. Despite numerous challenges, the global economy has shown some resilience. The recovery in the euro area is broad based and proceeds steadily. Unemployment is falling in almost all euro area countries and implemented structural reforms are still bearing fruit. Growth in the US and Japan is continuing and unemployment is low. Although China experiences challenges in transforming its economy, it has so far managed to avoid a hard landing. India is growing strong and might be the fastest growing large economy for the coming years.
We should neither underestimate nor overstate the risk and challenges ahead. This calls for realistic expectations and avoiding seeing a new potential worldwide economic crisis in every event with economic impact. One of these events is the Brexit. The effects until now have proven to be moderate, although the ultimate impact of the Brexit is very unclear, which indicates that the British, the European and the world economy are resilient. Part of the macroeconomic impact of recent shocks such as the Brexit vote is likely to materialize only at a later stage, when the effects of unrealized investments will be felt and the UK will actually exit the EU. In this respect, it is important to provide clarity to markets and firms as soon as possible on the exit process.
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http://www.imf.org/External/AM/2016/imfc/statement/eng/nld.pdf
Извор: Меѓународен Монетарен Фонд – 08.10.2016
