The forecasts will show GDP reaching 3.2 percent this year compared to last year and 3.1 percent in 2020, according to a copy of the projections obtained by CNBC. Growth will then level off at 3 percent through 2024, according to the projections.
WASHINGTON – President Donald Trump's budget will project that the economy continues to grow at a 3 percent rate or higher over the next five years, despite a more pessimistic consensus from outside forecasters.
However, the administration will tout that it has met or exceeded its economic forecasts for the president's first two years in office, according to materials obtained by CNBC. In 2017, the White House budget projected growth would be 2.3 percent in the fourth quarter compared to the previous year. It actually hit 2.5 percent.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan fourth-quarter GDP revised up on investment rebound but trade clouds outlookThe Japanese economy grew faster than initially estimated in the fourth quarter ...
Read more »
China stocks rally on stimulus hopes, Aussie dollar hit by weak GDP dataAsian stocks held their ground on Wednesday as Chinese equities soared on stimul...
Read more »
Australia GDP slowdown opens door wide for rate cuts this yearAustralia's top central banker sounded sanguine about a sharp slowdown in t...
Read more »
China stocks rally on stimulus hopes, weak GDP growth hits AussieAsian stocks held their ground on Wednesday as Chinese equities rallied on stimu...
Read more »
U.S. construction spending falls, fourth quarter GDP seen revised lowerU.S. construction spending unexpectedly fell in December as investment in both p...
Read more »
China aims for 2019 GDP growth of 6% to 6.5%BEIJING--Chinese Premier Li Keqiang said Tuesday that the government aims for the economy to grow in a range of 6% to 6.5% in 2019, compared with last year's goal of about 6.5%. China's gross domestic product rose 6.6% from a year earlier in 2018, its slowest pace in nearly three decades. In an annual government report delivered at the opening session of the National People's Congress, Mr.
Read more »
China raises budget deficit to 2.8 percent of GDP: policy reportChina set a 2019 budget deficit target that's higher than last year's ...
Read more »
Japan's fourth quarter GDP seen revised up on stronger business spending: Reuters pollJapan's economy likely expanded faster than initially estimated in the four...
Read more »
Climate change will affect more than the weatherGlobal warming could decrease America’s GDP by more than 5% by 2100
Read more »
The ‘Czech Donald Trump’ Meets With Real Donald Trump in White HouseBillionaire Czech Prime Minister Andrej Babiš said that he wants to make the Czech Republic “great again” during a meeting between the two politicians.
Read more »