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IMF says to revise up 2010 global growth forecast

The International Monetary Fund will increase its forecast for global growth next year in the next few days to account for a faster recovery in major economies, its deputy director said.

The IMF will raise its forecast for 2010 global growth to about 3% from 2.5%, said Murilo Portugal, the fund's deputy managing director. The revised forecast could come as soon as Tuesday.

“The recovery is stronger than initially forecast,” Portugal, a former deputy finance minister in Brazil, told journalists on the sidelines of a business seminar.

Brazil's economy, the largest in Latin America, should grow more than the global average, Portugal said without giving detailed forecasts.

Economists in a weekly central bank survey released on Monday increased their forecast for gross domestic product growth in Brazil to 4.5% in 2010 from 4.2% a week earlier. (Reuters)