IMF raises growth forecast for 2010 to 3.1 per cent

Istanbul: The world economy is recovering from recession faster than expected thanks to government stimulus packages, new forecasts from the International Monetary Fund show.

In its latest estimates for the world economy, the fund says the global economy is poised to grow by 3.1 per cent in 2010, up on the 2.5 per cent predicted in July.

The United States, the world's biggest economy, is expected to grow by 1.5 percent. The international organisation says stimulus packages around the world have helped support demand and reduced risks in the financial markets. However, recovery is expected to be slow and risks to the outlook remain to the downside.

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