ANKARA
Global economic growth will be slower than expected in 2015 as the U.S. economy has seen slower growth than what had been forecast, the International Monetary Fund has said.
In its update to the World Economic Outlook report released Thursday, the IMF said it cut its global growth forecast 0.2 percentage points to 3.3 percent for 2015.
But the global economy should grow faster in 2016, the report said, reaching 3.8 percent as the U.S. and European economies recover.
Weak performance by the U.S. economy was the main driver in the growth forecast reduction. Wages have remained low in the U.S., and inflation has not increased as much as expected, the report said.
Emerging economies were also expected to show weaker performance this year.
"In emerging market economies, the continued growth slowdown reflects several factors, including lower commodity prices and tighter external financial conditions, structural bottlenecks, rebalancing in China, and economic distress related to geopolitical factors," it said.
A rebound in activity in a number of emerging economies is expected to result in a pickup in growth in 2016.
But the IMF warned that the overall risk to global economic activity is "still tilted to the downside". Volatile financial markets and asset bubbles are still threatening to slow economic growth across the world.
