IMF lowers global growth forecast for 2015 and 2016
January 20 , 2015
The IMF has lowered global economic growth forecasts for 2015 and 2016.
According to its new forecast, this year’s growth will be 3.5%, down from the October estimate of 3.8%.
Next year’s growth forecast has also been downgraded to 3.7%.
The lowering in growth estimates comes even though global oil prices have reached historic lows. The IMF believes that the positives associated with falling crude prices will be negated by other factors such as weaker investment.