(MENAFN- Qatar News Agency) The International Monetary Fund (IMF) lowered Tuesday the global growth prospects for 2013-2014, due to the weakening economic conditions of emerging economies like India, China and Russia.
The IMF dropped its growth estimate for the world to 2.9%, down from its July estimate of 3.2%.
As for 2014, the forecast was lowered by 0.2% to 3.6%.
India was one of the most struggling based on the IMF's estimates, off by 1.8% to 3.8% growth.
Russia was off by 1% to 1.5% and the Middle-East and North Africa off by 0.9% to 2.1%. China, the World's second largest economy, saw a dip of 0.2% to 7.6% in 2013 and an 0.4% decrease to 7.3% in 2014
The IMF's forecast for North America, Europe and Japan was largely unchanged, with growth of 1.2% in 2013 and 2% in 2014.
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