Yet, while the global economy is enjoying strong growth, challenges remain.
The IMF forecasts U.S. economic growth of 2.2% this year and 2.3% in 2018, down from April when the IMF predicted 2.3% growth in 2017 and 2.5% in 2018.
Significantly from a European perspective, strong growth in the eurozone area, along with improved forecasts for China, Russia and Japan, helped to offset slightly gloomier predictions for Britain, the United States of America and India.
In its latest report, "World Economic Outlook " published on its official website on October 10, the International Monetary Fund forecasts a growth rate of 3% in 2018 for Tunisia and a slight improvement in the country's external balance from -8.7% in 2017 to -8.4% in 2018, while the balance was in the range of -9% in 2016. Morocco is expected to report 4.8% growth this year and 3% growth in 2018 and Egypt 4.1% growth this year and 4.5% growth in 2018.
But the International Monetary Fund has qualified its optimism, stating that growth may be unsustainable given sluggish inflation rates and weak wage growth, especially in developed economies. The nature of that upswing puts the current one in an even better light.
The IMF continues to expect United Kingdom economic growth to slow from 1.8% in 2016 to 1.7% this year and to 1.5% next year.
Leicester City v West Bromwich Albion
Leicester City now sit 17th in the English topflight with just five points from seven games. West Brom are 10th in the league with nine points from seven league games.
"For policymakers, the welcome cyclical pickup in global activity provides an ideal window of opportunity to tackle key challenges - namely to boost potential output while ensuring its benefits are broadly shared, and to build resilience against downside risks", the Outlook reads.
Its latest World Economic Outlook predicts strengthening economic growth globally, building on healthy data from the first half of 2017.
The IMF lowered India's forecast growth to 6.7 percent from the 7.2 percent predicted in July.
Projected growth rates for China have been upgraded all the way to 2022, on the assumption that the Chinese Communist Party maintains its current economic policies.
Despite the good news, the report comes with a warning that the global recovery is far from complete with weak growth rates still persisting in several countries - particularly among fuel exporters hit by a fall in foreign earnings - and inflation still below the target rates in most advanced economies.
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