Washington  - The International Monetary Fund on Thursday revised upward its predictions for world economic growth for the remainder of the year, despite a slowdown that is expected to continue into 2009 and mounting inflation concerns.

Growth is projected to be 4.1 per cent in 2008 down from 5 per cent in 2007, with growth continuing to slow to 3.9 per cent in 2009, the IMF said in its World Economic Outlook released Thursday in Washington.

But the world slowdown would be less severe than it predicted in April on greater than anticipated demand in the first half of the year, revising world growth up 0.4 per cent from its April projection. (dpa)