World economy in danger zone: IMF

Print Posted Date : 26-Jan-2012 , 05:39:54 pm | Posted By CASANSAAR

Listen to this Article

0:00

The International Monetary Fund (IMF) has said the world's economy is deeply into the danger zone because of risks from the eurozone.

The IMF predicts the global economy will grow by 3.25% in 2012, down from an earlier forecast of 4%.T

he growth forecast for the UK economy has been cut to 0.6% from 1.6%.

But the euro zone is set for a mild recession in 2012, with GDP expected to shrink by 0.5%, compared with a previous forecast of 1.1% growth.

Category : International Business | Comments : 0 | Hits : 333

Also Read -

Chartered Accountants from UK, Canada might be allowed to Practice in India - ICAI

Chartered accountants from the UK and Canada might be allowed to practice in India on a reciprocal basis, with the apex body ICAI making the proposal to the Government. ICAI President Ranjeet Kumar...

Also Read -

Credit Card holders may have to file declaration with banks for TCS Levy

The tax department is considering a proposal under which credit card holders will have to file a declaration with the issuer entity within a stipulated time, specifying the nature of expenses incurred...

Also Read -

Annual Forex Spends up to Rs.7 lakh Exempted from TCS

Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambig...