Out of bounds
Fitch: the recovery of global growth goes on the right track
forecast agency Fitch Ratings increased global growth to 2.9 percent in 2017 from 2.5 percent in 2016 and adjusted its forecast for 2018 upwards slightly to 3.1 percent from 3.0 percent in March.
And adjusted expectations for US growth in 2017 downwardly slightly but that was offset by better growth prospects in China and Japan.
According to the agency, it said that the weakness of US growth in the first quarter due to the consumption seems to be influenced by temporary factors, and the unemployment rate fell and the gains of wealth and improved consumer confidence and the prospect of cuts on income tax is supposed to support the recovery of consumption in the United States as of the second quarter.
The impact of the stimulus policies that have been applied earlier in the activity in China turned out to be more robust than expected and that the slowdown in the housing market continued more than expected.
$ 55 billion for projects in infrastructure over 10 years , the
Australian government announced plans to invest 75 billion Australian dollars (55.09 billion US dollars) in large infrastructure projects over ten years , including extending the railway line in the quest to spur the next phase of growth in the the country.
Australia outperformed many of their counterparts from developed countries since the global financial crisis but sustained economic growth and the challenges faced in recent years with the end of the investment boom in the mining sector.
Said Treasury Secretary Scott Morrison in a speech to parliament for the budget presentation that the investment in infrastructure and long - term infrastructure projects will support his country well in the future.
The railway project extends the giant distance 1700 kilometers from Melbourne in the southeast of the country to the north of Brisbane on the east coast. The budget allocates $ 8.4 billion to the Australian railway company to pay off the project , which is expected to provide 16 thousand jobs at the peak of construction activities cost.
Budget expects 2.85 percent in 2017-2018 economic growth rise to three percent in 2020-2021 and Hooql slightly from the expectations of the Australian Reserve Bank estimated growth between 2.75 and 3.75 percent from mid - 2018 until June 2019 the US dollar = 1.3615 Australian dollars .