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Added on the 19/01/2016 17:13:52 - Copyright : Reuters EN
Gita Gopinath, IMF chief economist, says the World Economic Outlook cut the global GDP forecast for this year to 3.5 percent from the 3.7 percent projected in October. And for 2020 the estimate was trimmed to 3.6 percent. SOUNDBITE of Gita Gopinath at the World Economic Forum in Davos
The International Monetary Fund slightly lowers its outlook for the global economy, predicting the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January. SOUNDBITE
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 OECD cuts its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the China-US trade war threatens to crimp global growth. Governments "must act urgently to reinvigorate growth that benefits all," the Organisation for Economic Co-operation and Development says as it pared back its forecast for global growth to 3.2 percent this year from 3.3 percent earlier. SOUNDBITE
The OECD raises its global economic growth forecast for 2024, driven by strong performances in the United States and emerging countries while Europe lags behind. The US economy -- the world's biggest -- is now expected to expand 2.6 percent in 2024, up from the 2.1 percent previously expected. But the OECD expects timid growth of 0.7 percent in the eurozone, slightly better than the 0.6 percent previously expected. SOUNDBITE
The EU sharply cut its eurozone growth forecast for 2024, Commissioner for the Economy Paolo Gentiloni says. Gentiloni says the European Commission predicts the single-currency economic area to grow by 0.8 percent in 2024, down from a previous forecast of 1.2 percent. SOUNDBITE
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