IMF is optimistic about economic growth in ASEAN-5 region, including Vietnam (Photo: CNBC)

In an updated World Economic Outlook published on Monday, the IMF said global gross domestic product would grow 3.5 percent in 2017 and 3.6 percent in 2018, unchanged from estimates issued in April. They said that while risks around the forecast appear broadly balanced in the near term, they remain skewed to the downside over the medium term.

The IMF shaved its forecasts for U.S. growth to 2.1 percent for 2017 and 2018, slightly down from projections of 2.3 percent and 2.5 percent, respectively, just three months ago.

According to the organization, China’s growth is forecast to be 6.7 percent this year and 6.4 percent next year while it expected slightly higher growth in Japan this year of 1.3 percent. Its forecast for Japan's 2018 growth was unchanged at 0.6 percent.