(MENAFN) The International Monetary Fund (IMF) slashed its forecast for global economic growth for 2015 to take into account the impact of recent weakness in the US, Oman Observer reported.
The IMF said the global economy should expand 3.3 percent this year, 0.2 percent below what it predicted in April. Growth should speed up to 3.8 percent in 2016, unchanged from earlier forecasts.
However, the global financial institution said growth prospects for next year remain undimmed, despite Greece's debt crisis and recent volatility in Chinese financial markets.
"(But) for the most part, it was a series of accidents and the rest of the year should not be very much affected," the IMF's chief economist said in a press conference.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.