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The International Monetary Fund Monday revised up its forecast for world economic growth in 2018 and 2019, saying sweeping U.S. tax cuts were likely to boost investment in the world's largest economy and help its main trading partners. However, the IMF, in an update of its World Economic Outlook, also added that U.S. growth would likely start weakening after 2022 as temporary spending incentives brought about by the tax cuts began to expire.Pointing to growth in the United States and China, the IMF forecast global growth to 3.9 percent for both 2018 and 2019, a 0.2 percentage point increase from its last update in October.The IMF now expects it to expand by 2.7 percent in 2018, much higher than the 2.3 percent the fund forecast in October.The IMF revised up its growth forecast for Japan to 1.2 percent this year and 0.9 percent in 2019 .
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