IMF downward revises forecast for global growth in 2016

WASHINGTON, April 12 (APP): The International Monetary Fund (IMF) on Tuesday revised downward its forecast for the global growth, saying the sluggish pace leaves the world economy more exposed to risks.

In its latest World Economic Outlook, the IMF expects global growth at 3.2 percent in 2016 and 3.5 percent in 2017, a downward revision of 0.2 percent and 0.1 percent, respectively, compared with the forecast it made at the start of the year.

Emerging markets and developing economies will still account for the lion’s share of world growth in 2016, projected to grow by 4.1 percent this year and 4.6 percent next year. However, prospects across countries remain uneven and generally weaker than over the past two decades.