Rome: The International Monetary Fund has cut its forecast for global growth to 4.0 percent in 2011, down from a previous expectation of 4.2 percent, Italian news agency ANSA reported on Wednesday based on draft reports.
The IMF also cut its forecast for global growth in 2012 to 4.2 percent from a previous expectation of 4.3 percent, the agency said, citing a new draft of the IMF's World Economic Outlook to be issued on Sept. 20.
Its growth forecast for the euro zone now stands at 1.7 percent in 2011 and 1.3 percent in 2012, down from previous forecasts of 1.9 percent and 1.4 percent.
Its expectations for Italy's growth in 2011 have been confirmed at 0.8 percent in 2011 while it has cut its 2012 forecast to 0.5 percent from a previous 0.7 percent, ANSA reported.
First Published: Wednesday, September 07, 2011, 22:16