IMF cuts India growth forecast to 6% for 2013

Oct 05, 2012 |

Reuters

Berlin

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The International Monetary Fund will lower its forecasts for global economic growth to 3.3 per cent in 2012 and 3.6 per cent in 2013 from earlier forecasts of 3.4 per cent and 3.9 per cent respectively, a Germany newspaper reported on Friday.

The IMF expects the eurozone economy to shrink by 0.4 percent this year and then grow 0.2 per cent in 2013, business daily Handelsblatt said in a preview of the fund's latest forecasts which are due to be released next week.

Chinese growth for 2013 is seen at 8.2 per cent, versus a previous IMF estimate of 8.4 per cent, Indian growth is seen at 6 per cent versus a previous forecast of 6.6 per cent and Brazilian growth at 4 per cent versus 4.7 per cent, the newspaper reported.

"The further cooling of global economic growth this year and next year is accompanied by a significant increase in downward risks," it quoted the IMF as saying.

It added that the global growth outlook depended on 'whether decisive political steps to stabilise confidence are taken in the eurozone and US'.

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