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 | IMF lowers 2012 global economic growth to 3.3%  | |
MENAFN -
- 09/10/2012
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(MENAFN) The International Monetary Fund (IMF) stated that it lowered its outlook for the global economic growth for the current year by 0.2 percent to 3.3 percent, reported Xinhua News.
The IMF said that although there's an economic recovery, however, it has waned, with growth in developed countries posting low rates that are not sufficient to create jobs, whereas growth in key emerging countries has declined.
It noted that weak growth in developed nations is affecting the developing countries through exports, so the growth of countries, including China, India and Brazil, would be lower than recent past for some time.
The IMF also downgraded its forecast for next year's global economic growth to 1.5 percent from 1.8 percent for advanced countries, and to 5.6 percent from 5.8 percent for emerging and developing countries.
It is worth noting that the IMF expects the euro zone economy to start recovering in 2013.
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