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Added on the 19/10/2015 09:19:09 - Copyright : Reuters EN
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Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China's lifting of zero-Covid restrictions provides another boost. SOUNDBITE
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Surging inflation and severe slowdowns in the United States and China prompted the IMF to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse. SOUNDBITE
The IMF downgrades its forecast for global economic growth this year, citing the impact of the Omicron variant of Covid-19, which contributed to a slowdown in the United States and China. World GDP is forecast to expand 4.4 percent this year, half a point lower than its previous estimate released in October, says IMF First Deputy Managing Director Gita Gopinath. SOUNDBITE
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