IMF Downgrades 2019-2020 Global GDP Growth Forecast by 0.2, 0.1% to 3.5, 3.6% - Report
The International Monetary Fund (IMF) has downgraded the 2019-2020 growth target for global GDP by 0.2 and 0.1 percentage point to 3.5 and 3.6 percent respectively, the IMF said in a report on Monday
MOSCOW (Pakistan Point News / Sputnik - 21st January, 2019) The International Monetary Fund (IMF) has downgraded the 2019-2020 growth target for global GDP by 0.2 and 0.1 percentage point to 3.5 and 3.6 percent respectively, the IMF said in a report on Monday.
"While global growth in 2018 remained close to postcrisis highs, the global expansion is weakening and at a rate that is somewhat faster than expected.
This update of the World Economic Outlook (WEO) projects global growth at 3.5 percent in 2019 and 3.6 percent in 2020, 0.2 and 0.1 percentage point below last October's projections," the report said.
An escalation of trade tensions and a worsening of financial conditions are key sources of risk to the outlook, the IMF said.
The IMF added that the risks to more significant downward corrections are rising.