The International Monetary Fund forecasts an average of 3.6 percent growth for G20 countries. Turkey is expected to grow 3.4 percent while Russia is expected to shrink.

G20 countries to grow 3,6 pct in 2015: IMF

Among the G20 countries, the 19 largest economies in the world and the European Union, China is expected to have the highest growth figures in 2015 – approximately around 6.8 percent – while Russia will be at the bottom of the list with a 3 percent economic contraction. Turkey is expected to grow 3.4 percent.

According to information gathered from the International Monetary Fund (IMF), the growth rate of countries in the G20, except for the European Union, will be around 3.6 percent this year and 3.7 percent next year. The IMF’s growth projection estimates 6.8 percent growth for China, the highest among G20 countries, followed by India with 6.3 percent and Indonesia with 5.2 percent, while South Korea is fourth on the list with an estimated 3.7 percent growth followed by the U.S. in fifth place with a 3.6 percent growth rate. Turkey will grow around 3.4 percent, according to the IMF’s estimations, and be the sixth highest growing economy among the G20 countries, leaving behind 13 G20 countries and the European Commission. While the Turkish economy grew by 2.9 percent in 2014, the IMF had expected a 3-percent rise. The IMF has updated its 2015 and 2016 projections for Turkey and increased it from 3 percent to 3.4 percent for 2015, and decreased it from 3.7 percent to 3.4 percent for 2016. 

In 2016, Mexico is predicted to grow by 3.2 percent, Saudi Arabia by 2.8 percent, Australia and the U.K. by 2.7 percent, Canada by 2.3 percent and Africa by 2.1 will follow Turkey. This year, Germany will grow by 1.3 percent, France by 0.9 percent, Japan by 0.6 percent, Italy by 0.4 percent, Brazil by 0.3 percent and the European Union by 1.6 percent. This year, Argentina‘s economy will shrink by 1.3 percent and Russia is last on the list with a 3-percent shrinkage.

Source: dailysabah.com

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