IMF predicts global economic growth as Turnbull government spruiks tax cuts

The International Monetary Fund (IMF) predicts the global economy will grow thanks to the Trump administration's tax cuts, and the Turnbull government says it's time Australia follows suit.

Scott Morrison will attend the IMF and World Bank annual meetings in Washington on October 13-14 2017. Source: AAP

The IMF predicts world economic growth will reach 3.9 per cent over the next year.

It's an increase of 0.2 percentage points over the rate it predicted last year and could be the quickest expansion of the economy in years.

It says the Trump administration's decision to cut its corporate tax rate to 21 per cent is expected to help boost global growth to its best result in eight years.

The organisation is urging world economies to take advantage of the growth, and Treasurer Scott Morrison is obliging.