IMF lowers 2015 global growth forecast to 3.3 percent

WASHINGTON: The International Monetary Fund lowered its 2015 global economic growth forecast on Thursday, citing a likely "temporary setback" from the United States in the first months of the year.
The IMF also highlighted the risk of "financial stress" in Europe from the Greek debt crisis and China’s slowdown, but left forecasts for the Eurozone and the Asian giant unchanged.
The Washington-based institution projected the world economy would grow 3.3 percent this year, less than the 3.5 percent pace it had forecast in April and slightly slower than 2014. The 2016 forecast was for a pick-up to 3.8 percent.
"Moderate growth continues, with an improving recovery in advanced economies, and a slowdown in underlying growth in emerging-market and low-income developing economies," said Olivier Blanchard, the IMF’s chief economist, at a news conference.