The forecast for global economic growth for this year and next has been lowered by the International Monetary Fund (IMF). 'The IMF now expects growth of 3.5% this year, compared with the previous estimate of 3.8% which it made in October. The growth forecast for 2016 has also been cut, to 3.7%. The downgrade to the forecasts comes despite one major boost for the global economy - the sharp fall in oil prices, which is positive for most countries. The IMF expects that to be more than offset by negative factors, notably weaker investment.' (BBC News, 20 January) Lower forecasts don't look good for workers' prospects. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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