2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 58

III. THE GLOBAL ECONOMY
Mr. Speaker,
As compared to the global outlook that was
presented in the Budget Communication last year, prospects
for the world economy have now been revised upwards
appreciably, at least over the next two to three years.
Beyond that, the impact of structural factors on the rate of
potential growth is still expected to dominate the global
economic landscape.
Based on the latest World Economic Outlook
published by the International Monetary Fund (IMF) in
April, the global economic outlook is the most buoyant that
it has been since the start of the decade. This is spurred by
expansionary fiscal policies in the United States, supportive
world financial conditions and an ongoing upswing in global
investment and trade.
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