Euro economy set to shrink
Source: Agencies |
January 20, 2012, Friday
|
Print Edition
Print Edition
THE International Monetary Fund expects the eurozone economy to contract by 0.5 percent this year and warns that tensions arising from the bloc's debt crisis threaten global growth, Italian news agency ANSA reported yesterday, quoting a draft of the World Economic Outlook.
The figure is 1.6 percentage points lower than the IMF's September forecast, ANSA said. The IMF is due to publish next week its latest World Economic Outlook report.
ANSA said the IMF saw growth of just 0.3 percent in Germany this year, accelerating to 1.5 percent next year.
Similarly, France may grow by 0.2 percent this year and 1 percent the next.
Both Italy and Spain would record two years of negative growth.
The figure is 1.6 percentage points lower than the IMF's September forecast, ANSA said. The IMF is due to publish next week its latest World Economic Outlook report.
ANSA said the IMF saw growth of just 0.3 percent in Germany this year, accelerating to 1.5 percent next year.
Similarly, France may grow by 0.2 percent this year and 1 percent the next.
Both Italy and Spain would record two years of negative growth.
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