IMF lowers global growth forecasts again for 2016, 2017
For 2016, the IMF revised its projections for Japanese economic growth downward to 0.5% while the fund expects to see a growth rate of 2.4% in 2016 for the US economy, down 0.2% from earlier forecasts. Meanwhile, Brazil’s economy is expected to shrink by 3.8% compared with a previous forecast calling for a 3.5% contraction. However, the IMF slightly revised its growth forecast for China upward to 6.5% in 2016 and 6.2% in 2017 due to the Chinese government’s recent stimulus moves.
For Turkey, meanwhile, the IMF expects the Turkish economy to grow by 3.8% this year and 3.4% next year, compared with growth forecasts of 3.2% and 3.6% in February, respectively.
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