The projection of global economic growth in the World Economic Outlook (WEO) Update released in July by the International Monetary Fund (IMF) has been revised somewhat downward for 2015 relative to the April 2015 WEO, but the projection that the growth rate will accelerate toward 2016 is unchanged.
Although overseas economies might continue to lack momentum for the time being, the Bank expects that they will continue to recover moderately, as advanced economies will continue to recover firmly and as the positive effects gradually spread to emerging economies.