In the latest World Economic Outlook report, the International Monetary Fund (IMF) cut its global economic growth forecast for this year from 3.3% to 3.1%.This projection assumed that the Iran conflict would be relatively short-lived, while energy prices would see a moderate rise this year. Under the worst scenario, however, global economic growth could fall below 2%.Related NewsInflation Rate MoM for Apr in China is 0.3%, higher than the previous value of -0.7%. The forecast was -0.1%.Likewise, the IMF's forecast for China's economic growth also dropped to 4.4% from the 4.5% made in January, though government stimulus measures have partly offset the damage stemming from the Middle East conflict.
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