Business News

CCTV Script 17/01/17

This is the script of CNBC's news report for China's CCTV on January 17, Tuesday.

Welcome to CNBC Business Daily.

Global uncertainty as a result of a looming Donald Trump presidency has caused the International Monetary Fund (IMF) to leave its worldwide growth forecasts unchanged for 2016 and 2017 - but saw an uptick for the U.S economy from Trump's proposed stimulus package.

In its World Economic Outlook report published on Monday, the IMF projected global growth at 3.1 percent in 2016 and 3.4 percent in 2017 - both unchanged from its October forecasts.

However, in the U.S., the IMF predicted a lift for the economy, thanks to the stimulus package proposed by President-elect Donald Trump. The fund forecasts that fiscal stimulus will lead to an increase in growth to 2.3 percent in 2017 and 2.5 percent in 2018 - a half-percentage point increase on the October forecast.

The IMF also predicted an uptick in global economic activity in the years ahead which could help worldwide growth reach 3.6 percent in 2018.

Donald Trump is scheduled to be inaugurated as president of the U.S. on Friday with investors on standby to see whether his election-promises are to unfold as planned. The IMF cited the uncertainty of a new U.S. administration as reason to leave forecasts unchanged in January and instead look to be more specific in April as Trump's policies begin to be rolled out.

The IMF forecast that the UK will grow by 1.5% this year, up from a previous estimate of 1.1%. However, 2018 expectations were revised down from 1.7% to 1.4%.

The fund on Monday raised its forecast for China's economic growth this year by 0.3 percentage points to 6.5 percent, on expectations of continued policy stimulus.

At the same time, it downgraded India's growth outlook by 0.4 percentage points to 7.2 percent as consumption in Asia's third-largest economy takes a hit from the government's recent decision to abolish large currency notes.

For EM, growth prospects have marginally worsened, as financial conditions have generally tightened. However, Global economic activity was cited as a notable upside risk should policy stimulus prove to be larger than projected in either the U.S. or China.

CNBC's Qian Chen, reporting from Singapore.

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