- 6 updates
Shadow chancellor Ed Balls said that despite the upgrade the poor figures still represented the slowest recovery for 100 years and called on the Government to take action to boost growth.
The Treasury said the upgrade in the UK's growth forecast , which is the biggest for any of the G7 nations - showed the Government's economic strategy was working.
"The IMF has confirmed that the UK economy is turning a corner, by revising up its forecast for growth over the next two years by more than for any other G7 economy," a spokesman said.
"But risks to the global economy remain high, and the recovery cannot be taken for granted.
"That is why the Government will not let up in implementing its economic plan, which has already cut the deficit by a third, kept interest rates near record lows and created over a million-and-a-quarter jobs."
The IMF said that with interest rates remaining low, the Government could afford to do more to boost growth through long-term investment projects while sticking to its plan for tackling the deficit:
The International Monetary Fund (IMF) has upgraded its forecast for Britain's economy, amid "welcome signs" that the pace of economic activity is finally beginning to pick up after the global crash.
But in its latest World Economic Outlook, the IMF said that it would still take years before Britain's economy sees a full recovery.
It suggested the Government should now bring forward public investment projects to offset the squeeze on near-term Whitehall spending.
The International Monetary Fund has upgraded its forecast for Britain's economy.
The world financial watchdog said it now expected the UK to see growth of 1.4 per cent this year rising to 1.9 per cent in 2014, compared to its last forecast in July of 0.9 per cent growth in 2013 and 1.5 per cent next year.
However, the IMF did warn that it would take years before Britain's economy recovered completely from the financial crash in 2008.