Washington – The International Monetary Fund is raising its estimate for economic growth in Canada this year.
The think tank says it now projects Canada’s economy will grow 2.3 per cent this year, up from an estimate of 2.1 per cent in October.
Growth for 2019 is forecast at 2.0 per cent, up from an earlier projection for 1.7 per cent.
The update for Canada came as the IMF also increased its outlook for global economic growth.
World output is expected to grow 3.9 per cent this year and 3.9 per cent in 2019, up two-tenths of a percentage point in both years.
It says the revision reflects increased global growth momentum and the expected impact of the U.S. tax policy changes.
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