The International Monetary Fund is projecting global economic growth of three per cent this year and 3.1 per cent in 2026.
Pierre-Olivier Gourinchas, Chief Economist & Senior Economic Counsellor at the IMF, says the upward revision is due largely to lower-than-expected tariff levels compared with those announced in April.
He also pointed to proposed trade agreements between the United States and the European Union, Japan, and India, as well as easing financial conditions and increased focus on exports in many countries, as key drivers of the improved outlook.
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