"Even with the sharp oil price decline, a net positive for global growth, the world economic outlook is still subdued, weighed down by underlying weakness elsewhere," the Washington-based IMF said in its World Economic Outlook (WEO) report released on Monday (local time).
"Recent developments, affecting different countries in different ways, have shaped the global economy since the release of the October WEO," the report said, adding that "new factors supporting growth — lower oil prices, but also depreciation of euro and yen — are more than offset by persistent negative forces, including the lingering legacies of the crisis and lower potential growth in many countries."
The report revised up the U.S. economic growth for 2015 to 3.6 percent from an earlier estimate of 3.1 percent, citing more robust private domestic demand.
It curtailed the euro area and Japanese growth outlook to 1.2 percent and 0.6 percent, respectively.
In emerging market and developing economies, the report said, growth is projected to "remain broadly stable" at 4.3 percent in 2015, a weaker pace than forecast in October.
It cut its growth forecast for China to below 7 percent, saying that investment growth has slowed in the country and is expected to moderate further.
The report downgraded Russia’s economic outlook to minus 3.0 percent because of "sharply lower oil prices and increased geopolitical tensions."
reporter
Park Sae-jin
swatchsjp@ajunews.com
