IMF Cuts Global Growth

IMF Cuts Global Growth

Crude oil futures were lower Tuesday morning after the International Monetary Fund cut its forecast for global economic growth in 2015.

Global growth is projected at 3.5% for 2015 and 3.7% for 2016, the IMF said in its latest World Economic Outlook report, down by 0.3 percentage points from earlier estimates.

“New factors supporting growth – lower oil prices, but also depreciation of euro and yen – are more than offset by persistent negative forces,” said Olivier Blanchard, the IMF’s chief economist.
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Oil and Gas Press