IMF cuts 2013 global growth forecast

The International Monetary Fund has cut its 2013 global growth forecast, as Europe’s debt crisis prolongs Spain’s recession and slows expansions in emerging markets.

16th July, 2012
IMF cuts 2013 global growth forecast
The IMF's logo

The International Monetary Fund has cut its 2013 global growth forecast, as Europe’s debt crisis prolongs Spain’s recession and slows expansions in emerging markets.

Growth worldwide will be 3.9 per cent next year, less than the 4.1 per cent estimate in April, according to the IMF’s latest update of its World Economic Outlook.

The update predicted that Spain’s economy will contract by 0.6 per cent instead of a prior forecast for 0.1...

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