The International Monetary Fund (IMF) has lowered its global economic growth forecast for 2014 to 3.4 per cent from its earlier prediction of 3.7 per cent in April.
The IMF cited “negative surprises” from the economies of the United States and China, as well as geopolitical tensions in Ukraine and the Middle East.
The sharp and unexpected drop in US GDP during the first quarter was a major factor in the adjusted forecast, it said.
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