One country could overtake the UK and the US, becoming the fastest growing G7 by 2025

In a report released on July 17, the International Monetary Fund (IMF) upgraded its forecast for the Canadian economy . The IMF said that the country could achieve growth of 1.3% this year and 2.4% next year.

IMF forecasts Canada's economy to grow fastest in G7 by 2025. (Source: Getty Images)

This latest outlook is expected to put Canada ahead of both the US and the UK.

According to the report, by 2025, Canada is expected to be the fastest growing economy among the Group of Seven (G7) and other advanced economies.

Also according to the IMF, the US economy will come in second with 1.9% growth and the UK will come in third, with 1.5% growth next year.

The agency forecasts global growth will remain steady at 3.2% this year and slightly higher next year, at 3.3%.

Emerging and developing market economies are forecast to grow 4.3% this year and next.

China's growth is revised up in 2024 to 5% from an initial forecast of 4.6%, while India's economy is expected to grow around 7% this year.

Source: https://baoquocte.vn/mot-quoc-gia-co-the-vuot-anh-va-my-tang-truong-nhanh-nhat-g7-vao-nam-2025-279182.html