Saudi Arabia bans grocery stores from selling tobacco products    Saudi Arabia to expand railway network by over 50% under transport strategy    'Not our war' — Trump's Nato weapons deal for Ukraine sparks MAGA anger    Saudi Arabia voices support for Syria's unity, condemns Israeli violations    Health official warns against unsupervised use of weight-loss drugs like Ozempic, Mounjaro    GASTAT: Inflation remains stable at 2.3% in June    Saudi Arabia leads MENA in venture capital with $860 million in H1 2025    Saudi tech and innovation delegation explores AI and space partnerships in UK    SFDA refers illegal cosmetics facility to prosecution over expiry date tampering    King Salman chairs Cabinet session, endorses international cooperation and national development initiatives    'Why are you not preventing settler terrorism': Palestinians call out IDF following beating death of American    Former Israeli leader says 'humanitarian city' in Gaza would be a 'concentration camp'    King Fahad National Library extends weekend hours    Biggest human imaging study scans 100,000th person    Beyoncé's unreleased music stolen from car during Cowboy Carter tour    First Harry Potter image released as production begins    Jorge Jesus returns to Saudi Arabia as Al Nassr head coach on one-year deal    Jannik Sinner beats Carlos Alcaraz to win his maiden Wimbledon title    Chelsea defeat PSG 3-0 to win first expanded Club World Cup    Theo Hernández: Al Hilal can compete with Europe's best    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IMF Lowers Global Growth Forecasts for 2013, 2014
Published in Saudi Press Agency on 10 - 07 - 2013

The International Monetary Fund (IMF) on Tuesday forecast slower global growth for this year and 2014, citing expectations of a longer recession in Europe and a slowdown in key developing countries like China and Brazil.
The update of the IMF World Economic Outlook first issued three months ago now projects the global economy will expand by 3.1 percent this year, the same rate as in 2012 and down from a forecast of 3.3 percent in April. The 2014 growth forecast was lowered to 3.8 percent from 4 percent.
The IMF said new risks had emerged in the last three months, including the possibility of a longer slowdown in developing economies.
A recession in the 17 countries that use the euro currency is becoming deeper than expected, and was a major factor in the downward revision, the IMF said. The euro-zone now is expected to contract by 0.6 percent this year, compared to a 0.4 percent decline projected in April.
The U.S. economy also looks weaker than previously forecast, the IMF said, citing tight fiscal and financial conditions. The IMF reduced U.S. growth forecasts to 1.7 percent this year and 2.7 percent in 2014 from earlier projections of 1.9 percent and 2.9 percent.
The IMF advised wealthier countries to restructure their economies and bring debt down to sustainable levels.


Clic here to read the story from its source.