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IMF Cuts 2014 World Growth Forecast to 3.4 Pct

IMF Cuts 2014 World Growth Forecast to 3.4 Pct

   Washington, July 24 (Jiji Press)--The International Monetary Fund said Thursday that the global economy is expected to grow 3.4 pct in real terms in 2014, down 0.3 percentage point from its previous projection three months ago.
   In an update to its World Economic Outlook report published in April, the IMF attributed the downward revision mainly to impacts of the cold spell in the United States early this year and a slowdown of China's economic growth.
   In addition, the IMF noted that geopolitical risks are higher than in April due to growing tensions in Ukraine and the Middle East.
   For 2015, the IMF kept its world economic growth forecast unchanged at 4.0 pct.
   By area, the institution raised its 2014 growth forecast for Japan by 0.3 point to 1.6 pct, citing "a stronger-than-expected performance in the first quarter."

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AFP-JIJI PRESS NEWS JOURNAL


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