US Tax Cuts Will Boost Global and US Growth, IMF Says

The forecast for 2017 global growth has been upgraded to 3.7 percent, 0.1 percentage points higher than earlier projections, in part because of the recent U.S. tax cuts, according to the International Monetary Fund.

The IMF says the growth is expected to carry into 2018 and 2019, with the global growth forecast being revised to 3.9 percent for both years, up 0.2 percentage points from earlier forecasts. But, the boost will be short-term, the IMF says in light of the increased fiscal deficit, growth is expected to be lower than in previous forecasts for a few years from 2022 onward, which will offset some of the earlier gains.