Economic growth forecast for 2013 to remain subdued above 3 per cent in 2013, according to the IMF, due to slower growth in emerging economies
The International Monetary Fund (IMF) revised its 2013 global economic growth forecast from its previous April forecast. Global growth is now projected at slightly above 3 percent in 2013, identical to 2012. The IMF justifies its reformed expectations as being a result of weaker domestic demand and slower growth among several key emerging economies.
Economic growth is expected to slowdown in many developing economies, particularly among the BRICS and sub-Saharan Africa. Growth of economies in the Middle East and North Africa is also expected to remain weak, due primarily to many countries’ ongoing political turmoil.
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