International Monetary Fund (IMF) Projects 3.5% Global Economic Growth in 2013

by Colonel on January 24, 2013

“The International Monetary Fund is projecting a modest rise in global economic growth for 2013, but also warning that problems in the eurozone and the United States could derail momentum.

The report Wednesday, an update of the fund’s World Economic Outlook, largely tracked the initial estimate from October, revising global growth down slightly by one-tenth of a percentage point, to 3.5 percent. The world economy grew 3.2 percent in 2012, according to IMF estimates.

The IMF downgraded its forecast for the 17-country eurozone, projecting a slight economic contraction for 2013. It said that despite positive policy steps to tackle the debt crisis in some eurozone countries, continued uncertainty about a resolution to the crisis is weighing down growth prospects.

The IMF warned that the eurozone “continues to pose a large downside risk to the global outlook.”

” — Copyright 2013 The Associated Press

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