Says World Economy Growing At 3.2%

Dubai, Sept 18: | Updated: Sep 19 2003, 05:30am hrs
Led by the economic recovery in the US and Japan, the global growth is expected to touch 3.2 per cent in 2003 and 4.1 per cent next year, says the IMF. We are reasonably optimistic of a normal growth and perhaps even better of the global economy, IMF counsellor and director, research department, Kenneth Rogoff told reporters, while releasing the World Economic Outlook report here on Thursday. While the US economy is projected to grow by 2.6 per cent in 2003 and 3.9 per cent in 2004, Japan is targetted to grow by 2 per cent in 2003 and 1.4 per cent in 2004, Mr Rogoff said.

He, however, expressed concern that the global economic recovery had not improved the job situation the world over and that Europe was still struggling to recover from the economic downturn.