The International Monetary Fund (IMF) has raised its global economic growth forecast for 2025 to 3.2 percent, 0.2 percentage point higher than the July forecast.
In its latest World Economic Outlook report published on Tuesday, the IMF projected the world economy would grow 3.1 percent in 2026, the same as it predicted in the July forecast.
The United States is forecast to grow by 2.0 percent in 2025, while the eurozone is expected to expand by 1.2 percent.
In its assessment, the IMF highlighted that a sharp increase in U.S. tariffs has become the most significant factor contributing to global uncertainty. The tariff shock is further dampening the world's growth prospects, the report said.
The report also pointed to other key downside risks, including heightened trade policy uncertainty, escalating protectionist measures, persistent geopolitical tensions, and growing fiscal vulnerabilities.
IMF raises global growth forecast to 3.2 pct for 2025
IMF raises global growth forecast to 3.2 pct for 2025
Voting for the election of the eighth-term Legislative Council (LegCo) of China's Hong Kong Special Administrative Region (HKSAR) concluded on Sunday night.
Voting for the election began at 07:30 a.m. local time on Sunday. More than 600 polling stations were opened across Hong Kong, serving approximately 4.13 million registered voters.
Long queues had already formed outside multiple polling stations across Hong Kong before the polls opened. At polling station entrances, staff and volunteers attentively assisted voters with the procedures. Some voters posed for a photo holding a thank-you card given by staff after casting their ballot.
"As a Hong Kong citizen, I think it's my responsibility to vote, and I don't want to give up my rights. That's why I come here to support," a voter said.
"We actually flew in from Thailand. Learning today is a special day to vote, we actually canceled all our appointments and canceled everything, and we flew in with the whole family just to be part of Hong Kong and to vote, and to cast our vote and be part of the community," said another voter.
HKSAR Chief Executive John Lee cast his ballot at around 08:30 a.m. at Raimondi College on Robinson Road. He said that the LegCo election is of great importance to Hong Kong's overall development and future reforms, and it also represents the expectations of Hong Kong society.
A number of voters said they look forward to the new term of the Legislative Council taking greater responsibility in advancing Hong Kong's economy, society, and public welfare.
"I think an area of focus I'd like to see is, one is the economy, and secondly is youth mobility and youth policies. I think youth are the future, and it's very important to get unity within the youth and also give us hope, right? The youth in general -- what can we do to, for us as youth, to partake in civil society and to show our responsibility, but also from the government, like, what kind of policy that can help us do that as well," said a young voter.
"I hope that there will be more fair education in the sense that even people from the poor family, they can actually receive good education in good schools," another voter said.
The new term of LegCo will be composed of 90 members, including 40 elected by the Election Committee, 30 elected by functional constituencies, and 20 elected by geographical constituencies through direct elections.
The eighth-term LegCo of the HKSAR will commence its four-year term on Jan 1, 2026.
Voting for 8th-term HKSAR LegCo election concludes
