Global recovery better than expected: IMF
(BRUSSELS) - Economic recovery is proceeding "better than expected" allowing a global growth forecast of four percent this year, International Monetary Fund chief Dominique Strauss-Kahn said Wednesday.
"The recovery is shaping up to be better than expected," IMF managing director Strauss-Kahn told an economic committee of the European parliament in Brussels.
"We are forecasting global growth of four percent this year," he said during a question and answer sessions with the assembled Euro MPs.
In January, the IMF predicted that the global economy was bouncing back but warned that stimulus was still needed to support the recovery.
The IMF then projected global growth of 3.9 percent in 2010, bouncing back from a 0.8 percent contraction in 2009 that marked the first downturn since World War II.
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