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Added on the 11/10/2022 16:31:34 - Copyright : Euronews EN
The International Monetary Fund has cut its global growth forecasts for the third time in less than a year, citing a sharp slowdown in China trade and weak commodity prices that are hammering Brazil and other emerging markets. Sonia Legg reports
GDP in the EU is now forecast to reach 1.0% in 2023 and 1.7% in 2024, up from a previous forecast of 0.8% and 1.6%.
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 warns of damage due to tariff disputes, as it cuts its forecast for global growth at its autumn meetings. Stephen Carroll asks Arancha Gonzalez, Executive Director of the International Trade Centre, if there is any end in sight to the United States' trade war with China.
The world economy is set to grow at its slowest pace this year since the 2008 financial crisis - that's according to the International Monetary Fund. The IMF's latest World Economic Outlook predicts global growth of just 3 percent, down 0.2 percent from the previous forecast in July. The IMF also expects Iran's economy to shrink by almost 10 percent because of US sanctions. Plus, Google announces a host of new products, including a Pixel 4 smartphone equipped with motion detection and facial recognition features.
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