ECONOMY

IMF cuts global growth to 3.2 percent in 2019, 3.5 percent in 2020

Global trade tensions and continued uncertainty are sapping the strength of the world economy which faces a precarious 2020, the IMF warned. (File photo: Reuters)

Global trade tensions and continued uncertainty are sapping the strength of the world economy which faces a precarious 2020, the International Monetary Fund warned on Tuesday.

In its quarterly update of its World Economic Outlook the IMF trimmed the global forecast issued in April by 0.1 percent this year and next, with growth expected to hit 3.2 percent in 2019 and 3.5 percent in 2020.

The IMF raised the US GDP forecast by three tenths to 2.6 percent for 2019 but the American economy is expected to slow to 1.9 percent in 2020.

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Last Update: Tuesday, 23 July 2019 KSA 17:52 - GMT 14:52
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