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Global growth to be a bit weaker than predicted: IMF
- Middle East: Wednesday, September 26 - 2012 at 03:44
The head of the International Monetary Fund (IMF), Christine Lagarde has said the IMF is set to cut its forecast for global growth next month with uncertainty over whether European policymakers will keep promises to address the euro zone crisis weighing on confidence, Reuters has reported. "We continue to project a gradual recovery, but global growth will likely be a bit weaker than we had anticipated even in July, and our forecast has trended downward over the last 12 months," said Lagarde. Although the euro zone debt crisis pose the greatest risk to the world economy, the US fiscal cliff also present a "serious threat," she said. In July, the IMF cut its global growth projection for 2013 to 3.9% but left its 2012 forecast at 3.5%.
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