IMF to lower global growth forecasts

Saturday, 6 October 2012 00:00 - - {{hitsCtrl.values.hits}}

BERLIN (Reuters): The International Monetary Fund will lower its forecasts for global economic growth to 3.3% this year and 3.6% in 2013 from earlier forecasts of 3.4% and 3.9% respectively, a Germany newspaper reported on Friday.

The IMF expects the euro zone economy to shrink by 0.4% this year and then grow 0.2% in 2013, business daily Handelsblatt said in a preview of the fund’s latest forecasts which are due to be released next week.

Chinese growth for 2013 is seen at 8.2%, versus a previous IMF estimate of 8.4%, Indian growth is seen at 6% versus a previous forecast of 6.6% and Brazilian growth at 4% versus 4.7%, the newspaper reported. “The further cooling of global economic growth this year and next year is accompanied by a significant increase in downward risks,” it quoted the IMF as saying.

It added that the global growth outlook depended on “whether decisive political steps to stabilise confidence are taken in the euro zone and US”.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.