The International Monetary Fund has revealed that the World Economic Outlook could be at a turning point, according to Maurice Obstfeldt, its chief economist.

In its annual forecast report, the IMF has estimated that a growth of 3.5% is going to be taking place – as opposed to 3.1% in  2016; with the UK showing the biggest growth margin of 2%, outgrowing all other developed nations apart from the US – whose growth forecast is 2.3%

Not bad for a country which braced itself for turmoil, ever since the brexit talks have begun.

It seems that a lot of businesses are set to prosper, but from a long term perspective, losses may still occur as IMF’s Maurice Obstfeldt explained: “[…] longer term prospects have been diminished because of the expected increase in barriers to trade, migration and the potential impact on the UK’s financial services.”

by Rui Furtado

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