The International Monetary Fund upgraded its economic outlooks for the world and Japan in 2014 on the back of an overall recovery in advanced economies.
In a revision to its biannual World Economic Outlook report, the IMF on Tuesday raised the expected growth rate of the global economy to 3.7 percent in 2014 from 3.6 percent in its last projection released in October, compared with 3 percent growth in 2013.
"Activity is expected to improve further in 2014-2015, largely on account of recovery in the advanced economies," the IMF said.