Business, Economics and Jobs

IMF expects stronger world economic growth


Shoppers buy Chinese made clothing at a discount stall in Beijing on March 22, 2012.


Mark Ralston

The IMF is expecting the world's economies to do better than it had initially thought this year. 

The International Monetary Fund said it expects the world economy to grow 3.5 percent this year and more than 4 percent in 2013. That's slightly better than it projected in January.

Emerging market nations will likely continue to drive growth as advanced economies like the US and Japan putter along. The European debt crisis and volatility in oil prices could threaten growth, the IMF said. 

The IMF's optimism is being fueled by faster growth in the US and Europe's efforts to address the continent's debt crisis, the Associated Press reported.

The US, the world's largest economy, is expected to grow 2.1 percent this year and 2.4 percent in 2013. The Dow Industrial Average climbed above 13,000 today, CNBC noted

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