IMF lowers global growth forecasts again for 2015
The IMF kept its growth estimates unchanged for China at 6.8% for this year and 6.3% for 2016, while revising up its projections for the US economy to 2.6% from its July growth forecast of 2.5%. However, the IMF cut its growth projections for the US for 2016 economic growth to 2.8% from its previous estimate of 3%.
In addition, for the Japanese economy, the fund expects to see a growth rate of 0.6% this year and 1% next year while the eurozone economy will expand 1.5% in 2015 and 1.6% in 2016, stable compared with its July forecasts.
The fund thinks that emerging economies will experience the fifth consecutive economic slowdown in 2015. The Russian economy will slow at a faster pace than expected, growing by 3.8% this year while Brazil’s economy will also slow to 3% this year and 1% in 2016. For Turkey, meanwhile, IMF expects the ecounty’s gross domestic product (GDP) to increase by 3.0% this year, down from its earlier estimate of 3.1% in July.
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