Global growth is set to reach 3.5 percent this year and 3.6 percent in 2018, the International Monetary Fund said Tuesday.
The Fund has raised its growth forecasts slightly from estimates released last October as macro economic conditions eased for commodity exporters and investment levels grew in advanced economies.
However, the IMF warned that risks to global growth remain to the downside with structural issues holding back economic development.
"With persistent structural problems—such as low productivity growth and high income inequality—pressures for inward-looking policies are increasing in advanced economies. These
threaten global economic integration and the cooperative global economic order that has served the world economy, especially emerging market and developing economies, well," the International Monetary Fund said in its latest World Economic Report.