International Monetary Fund (IMF) made a positive revision of the projection of the world economy in 2009 and 2010. Revision of economic growth in China and the ASEAN 5 countries, including Indonesia, became the highest in the world.
It is quoted from the IMF World Economic Outlook, which quoted, Thursday (1/10/2009).
Projection of world economic growth in 2009 version of the IMF minus 1.1%. Previously, the IMF projections of world economic growth in 2009 was in the level of minus 1.4%. For the year 2010, the IMF estimates that global economic growth to penetrate the 3.1%, up 0.6% from the previous projection of 2.5%.
The revision was mainly driven by the world economic recovery was much faster than previous calculations. However, assessing repairs IMF world growth rate does not indicate the crisis has ended.
“The recovery has begun. Financial markets are in recovery, in most countries, growth will be positive this year as in 2010. But this should not make the government complacent by thinking that the crisis has ended,” said IMF Chief Economist Olivier Blanchard.
The countries that will record positive economic growth in the year 2009, among others: the countries in Africa (1.7%), China (8.5%), India (5.4%), the ASEAN 5 (0.7 %), Middle East (2%).
Countries like the U.S., Germany, France, Italy, Spain, Japan, England, Russia, Canada, Brazil and Mexico still will be in negative territory this year. However, the latest revision of the IMF indicate changes in a positive direction than the previous projection.
Previously the IMF projected that China’s economic growth of 7.5%. The latest IMF figures for China in 2009 of 8.5%, up 1%.
ASEAN 5 which includes Indonesia, Malaysia, Philippines, Thailand and Vietnam had been projected to grow at minus 0.3%. IMF’s latest projections, the ASEAN region 5 to 2009 grew by 0.7% or up 1% from the previous projection.
Changes in projected growth rates of China and the ASEAN economies into 5 largest revisions over the entire country in the world.
For the year 2010, world economic growth is estimated to reach 3.1% up 0.6% from the previous projection of 2.5% level. China and India is still a major motor of economic growth in the world.
2010, China’s growth is estimated to reach 9% while India 6.4%. 5th ASEAN region is expected to grow 4% in 2010.
