Global economic growth News

Moscovici said protectionism could damage growth and the principles of free trade of the World Trade Organisation.

Christine Lagarde, speaking at a conference on global business and social trends in Dubai, said economies were also supported by plenty of financing available.

India is expected to achieve the projected growth rate of 7.4 percent in 2017 and further up 7.6 percent next year on strong consumption demand, with South Asia leading the growth chart in Asia and the Pacific, an ADB supplement report said on Thursday.

Member countries of the International Monetary Fund on Saturday pledged to work to reduce global imbalances but failed to repeat their past pledge to resist all forms of protectionism.

The IMF acknowledged on Saturday that a prolonged period of low growth has brought to the fore the concerns of those who have been "left behind" and said it was important that global economic integration benefits everyone.

As leaders and economists debated the future of globalisation at WEF, the emerging narrative shifted to growth booster from Asia for the global economy amid darkening prospects for trade worldwide.

India's economy grew at 7.1 percent in the first six months of the current financial year despite subdued growth in the world economy, Union Minister Nirmala Sitharaman said Monday.Despite demonetisation, India's GDP growth to be higher than China's: Fitch Ratings

Papua New Guinea`s Prime Minister Peter O`Neill survived a no-confidence vote in parliament Friday over corruption allegations following weeks of protests and civil disobedience urging him to resign.

Global economic growth did not translate into more harmful greenhouse gas emissions from the energy sector last year, the IEA said on Wednesday, a strong indication that growth and increased pollution no longer go hand in hand.

The price of gold jumped 2 percent to a 7-1/2-month high on Monday, briefly nudging above the psychological level of $1,200 an ounce, as sliding stock markets and worries over global economic growth prompted investors to seek safety.

The International Monetary Fund warned of substantial risks in the major emerging market economies Tuesday as it lowered its outlook for global economic growth this year.

Global economic growth will be disappointing next year and the outlook for the medium-term has also deteriorated, the head of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.

Endorsing India's stand, the G20 leaders on Monday pushed for a collective plan to lift global growth, create employment and promote development to eradicate poverty and to ensure equitable, sustained and balanced growth.

As the world leaders expressed concern here over slowdown in China dragging down the global economic growth, the US Treasury Secretary Jacob Lew has told his Chinese counterpart to ensure that the currency is allowed to move freely as per market forces.

"Overall, we expect global growth to remain moderate and likely weaker than we anticipated last July," Lagarde said.

Calling for structural reforms to bolster global growth, business leaders and experts Wednesday emphasised that politicians need to do their work rather than just depend on monetary policies.

World stock markets fell on Monday as slowing factory activity in China and Europe added to worries about weaker global growth and Apple shares dropped, while the yen hit a seven-year low against the dollar before recovering.

Global economic growth "would not be strongly affected" by rolling back carbon emissions but the cost will rise if action is delayed, the United Nations` climate panel said on Sunday.

Gold was up 0.9 percent at $1,219.30 an ounce Wednesday, having earlier touched a high of $1,220.40.

European stock markets fell for a second day on Wednesday, pushing world share indexes back towards their lowest in six months as concern mounts over the strength of global economic growth.