IMF Predicts Slower Growth For World Economy

The International Monetary Fund has lowered its outlook for the world economy this year, predicting that government spending cuts will slow US growth and keep the euro currency alliance in recession. The global lending organisation cut its forecast for global growth to 3.3 per cent this year, down from its forecast in January of 3.5 per cent. It didn’t alter its prediction of four per cent global growth in 2014.

The IMF expects the US economy to expand 1.9 per cent this year.