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IMF cuts global growth outlook from 3.5pc to 3.3pc after US contraction
THE International Monetary Fund (IMF) reduced its global economic growth expectations to 3.3 per cent from its 3.5 April prediction to take into account of a US first quarter contraction.
But the IMF, an intergovernmental welfare agency, said growth prospects for next year remain undimmed, despite Greece's debt crisis and Chinese market volatility, Reuters reports.
Growth should speed up to 3.8 per cent next year, it said, unchanged from earlier forecasts.The IMF expects American GDP to grow 2.5 per cent this year.
But the IMF, an intergovernmental welfare agency, said growth prospects for next year remain undimmed, despite Greece's debt crisis and Chinese market volatility, Reuters reports.
Growth should speed up to 3.8 per cent next year, it said, unchanged from earlier forecasts.The IMF expects American GDP to grow 2.5 per cent this year.
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