IMF lowers global growth forecasts in 2019
(VOVWORLD) - The International Monetary Fund (IMF) on Tuesday lowered its forecast for global growth this year and next, warning that trade tension and lengthen disputes could further slow growth, weaken investment and disrupt supply chains.
The IMF said downside risks had intensified and it now expected global economic growth of 3.2% in 2019 and 3.5% in 2020, a drop of 0.1 percentage point for both years from its April forecast.
The report sounded the alarm, saying global economy could be worsening. According to IMF, trade conflicts are undercutting investment and weakening manufacturing, and countries need to avoid using tariffs to resolve their differences. Resolving conflicts is pressuring the global economy the most, IMF said, adding that government need to avoid wrong move which could weaken growth momentum and job market.